AAPL Stock: 118.3 ( + 0.49 )

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Apple shares ride high on WWDC keynote announcement

updated 02:55 pm EDT, Tue May 31, 2011

Financial outlets cite Jobs' health, not iCloud

Apple stock is doing unusually well in the aftermath of this morning's WWDC keynote announcement. As of 2:53PM Eastern time shares are up $7.75, putting their price at $345.16. The company rarely sees such large gains in a single day, and in recent months Apple's stock price has remained relatively consistent, usually between $335 and $345.

Financial publications such as Fortune and Barron's are attributing the rise not to iCloud or iOS 5, but rather the plan for Apple CEO Steve Jobs to speak at the keynote. The executive is still on a third medical leave, and worries about the possibility of his death or retirement have sometimes caused wild fluctuations in Apple stock. Unlike the last leave Apple has refused to give details on Jobs' condition, and if or when he might return to full-time work.

by MacNN Staff



  1. Feathers

    Joined: Dec 1969


    Possibility of...

    "...the possibility of his death..." is a singularly distasteful and insensitive turn of phrase. Why not just say "...concerns regarding his health..."? Given that everyone's ultimate demise is a certainty and not a possibility, I can only hope that this eventuality visits upon the staff of MacNN before it visits upon Mr. Jobs.

  1. SockRolid

    Joined: Dec 1969


    Proof that Apple is looking forward

    The market is reacting because deep down everyone knows that Apple can't maintain their hardware margins forever. That's why Wall Street has suppressed Apple's valuation by keeping its P/E at below 20.

    In terms of hardware margins and profit, Apple is untouchable now. But 10 years from now consumer-grade hardware that can handle 3D HDTV will be dirt cheap. Even the Cobys of the world will have decent devices. Ultra-fast wireless data will be pervasive and the most sophisticated voice+data handsets will be free with subsidies.

    So what can Apple do to evolve itself for that future? It can move into online services. Streaming content, seamless syncing and backup, and who knows what else iCloud could eventually evolve into?

    Apple needs to develop a robust and compelling infrastructure that will beat all others. An infrastructure that could eventually replace cable TV channels and other broadcast media. That might be Apple's ultimate goal. To own the world's entertainment delivery infrastructure. Think about it.

  1. climacs

    Joined: Dec 1969



    I am certain you are on to something. After all, Apple muscled its way into the music business and the labels certainly didn't like that at all, not one little bit. After all, does the mob like it when someone muscles into their territory? They went through denial, anger, bargaining, depression and now they have finally moved on to the fifth phase of grieving, acceptance.

    Then Jobs parlayed Pixar into a seat on Disney's board.

    Apple as a content creator? Nope. But they certainly are positioning themselves well to be the mediator between the content creators and the device you use to consume the content, whether it's your TV or iPhone or iPad or PC or whatever.

    And yes, there IS going to be an Apple HDTV. You can bet on it.

  1. climacs

    Joined: Dec 1969


    where's the Apple-haters?

    hahaha suck on that

    still time to buy AAPL before it hits $450 which it will by year-end

    believe it or not, AAPL is undervalued. Should be around $400 if not higher.

  1. SockRolid

    Joined: Dec 1969



    We laugh at the haters. Trying to party like it's 1995.

    Even at AAPL's artificially low P/E, barely above 16, Apple is the world's most valuable tech company. And the world's second most valuable company period.

    And why, exactly, did that happen? Because Apple has done the best job of making technology easy to use. Technology is an essential part of modern culture. And that has made Apple an essential part of modern culture as well. And not just geek culture.

    Apple is #2 in terms of market cap, but Exxon won't be #1 for long. It took Apple 15 years to rebound from near-death to where it is now. To completely turn the ship around. Who here thinks Exxon can transition from fossil fuel exploitation to, say, solar / wind / geothermal / hydroelectric / nuclear power generation?

    Nobody? Me neither.

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