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“What a day for Apple,” Steven Russolillo reports for The Wall Street Journal. “Shares skyrocketed at the opening bell and the gains kept piling on throughout the session before finishing near session highs. The stock closed up $38.05, or 7.2%, to $565.73.”
Russolillo reports, “Through last week, shares had fallen 25% since mid-September.”
“Monday’s rally was the second biggest of the year (on April 25, shares jumped 8.9% following a blowout earnings report),” Russolillo reports. “It was also the third biggest run-up since the March 2009 lows, according to Jonathan Krinsky, chief technical market analyst at Miller Tabak & Co. in New York.”
Russolillo reports, “For those keeping score, Apple is now down 19% from its record high hit on Sept. 19. For the year, the stock is up 40%.”
Read more in the full article here.
[Thanks to MacDailyNews Readers “Fred Mertz” and “Ellis D.” for the heads up.]