AAPL hits intra-day all time high, headline writers scrounge thesauri for 'stratospheric' synonyms
Apple's announcement earlier today of an on-sale date and presales for the iPad seems to have struck a major chord with investors. Never mind the fact that April 3 only equals "late March" for unusually large values of March; when it comes to magical & revolutionary, Wall Street votes "yes, please" with a record intraday high for AAPL. The stock hit $219.70 at 1:14pm this afternoon, and is on track to remain above yesterday's close of $210.71.
Apple investors who bought in 5 years ago, when the stock traded around $40 -- or even those who sought a bargain in January 2009, and picked up some shares in the mid-$80s -- are undoubtedly delighted. Just in today's trading, Apple's market capitalization is up over $7.5 billion dollars, at around $198B total; compare to Google's
Update: Closed at $219. Jim Cramer's "Stop Trading! " segment included his philosophy of trading AAPL, which suggests a buy and hold now, dump right before April 3, then buy back in during the inevitable backlash against the iPad when the press says it's not deserving of the hype, "because they will be wrong."
[h/t Silicon Alley Insider]
Note: I hold a small, long-term position in AAPL.
Subscribe to Newsletter
Software Updatesmore updates
- NFL Mobile updated for 2014 Season with new Fantasy Football features, NFL Now integration
- Yahoo Mail improves email inbox searching with new filtering options
- Ember for Mac gains 'hugely-requested' screen recording feature
- Spotify update adds equalizer, refreshed Artist page and more
- Fantastical 2.1 for iOS adds new snooze, search and notification features
- ExpanDrive 4, more services and faster sync