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AAPL Stock: 567.77 ( + 43.02 )

Printed from http://www.macnn.com

AAPL shares on a rollercoaster ride

updated 04:00 pm EDT, Fri August 17, 2007

AAPL shares down, then up

Shares of Apple Inc. are on a rollercoaster ride this week, fluctuating wildly. The shares went from ~$124 on Wednesday to ~$112 on Thursday, then back up to ~$122 on Friday. The reason for the dip may have been pure profit taking by investors who have seen tremendous gains in the stock this year. The shares are up nearly 80% from a year ago. American Technology Research analyst Shaw Wu told Macworld UK. "The stock's been a huge outperformer, and I think it's just [investors] taking some profits. It's probably one of the few names people have made a lot of money on." The recent surge, meanwhile, is likely due to an overall bump in the market brought about by Federal Reserve Board's announcement Friday that it was cutting its discount rate by 50 basis points, to 5.75%, from 6.25%. "Banks use the so-called discount window to borrow money directly from the Fed, rather than from eachother, which is the more common way that they obtain short-term financing." The Fed also lengthened the period of borrowing at the discount to a 30-day term, renewable by the borrower, from the previous overnight loans. Just before the close of trading, Apple's shares were up about 4 percent.




by MacNN Staff

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Comments

  1. ClevelandAdv

    Joined: Dec 1969

    0

    I took profits....

    ... at 137.50 then bought back in at 113.50 today!! My kids will be going to Harvard, and I am retiring to beachfront villa.

  1. unity@mac.com

    Joined: Dec 1969

    0

    I think..

    I really think MacNN is the FOX of Mac news sites. ALL stocks have been fluctuating! We just went through a market correction! Hello! what happened to journalism.....

    Check out Dow Jones!

  1. testudo

    Joined: Dec 1969

    0

    Re: i think

    OK, but how is reporting that Apple stock, on an Apple web site, has been going on a ride, destroying journalism?

  1. unity@mac.com

    Joined: Dec 1969

    0

    becasue....

    Because they make it sound as if its localized to Apple shares and everyone else is fine. The article should have been titled "Stock market in massive fluctuation, Apple along for the ride."

    And when did I say journalism is being destroyed?

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