financial/investor
08/12/2005, 2:50pm, EDT
Friday, August 12th
Apple defies market selloff, stock up 4 percent
Shares of Apple defied a sharp technology-sector selloff on Friday to post a 4.3% rise, gaining $1.96 to $45.96, according to MarketWatch. "Other technology stocks were under pressure after both Cisco Systems and Dell Inc. this week issued disappointing earnings and predictions for the third quarter. Art Hogan, chief market strategist at Jefferies & Co., said Dell's most recent quarterly sales disappointed investors because although unit sales were strong, prices were weak. By contrast, Apple has been enjoying both strong unit sales and aggressive pricing, helping the stock look good in contrast to fellow computer maker Dell, he said."
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Not too brilliant, are they?
Hopefully there won't be a selloff on Monday.
There's "speculation of an iTunes launch," says Paul Foster, an options strategist at Theflyonthewall.com. "Google is going to offer iTunes somehow on their platform," according to the rumor, he says.
http://www.thestreet.com/_yahoo/tech/hardware/10237939.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA