In the past I have often commented that Apple Inc. (NASDAQ: AAPL) stock price was based on the iPod. Now I will have to amend that and call it the iPhone stock, as after the strong media favorability, the stock began leaping up today, to close up $5.91, or 4.87% since trading opened.
In the past, Apple stock has often retreated for a couple or a few weeks after a new product launch. Pre-launch hype would build as Apple fanboys and media outlets speculated that the new product would slice toast and make their bed. No matter how solid Apple's product would be at launch, it would always disappoint some vocal people who went beyond hype. The stock would fall.
The iPhone launch has certainly blown that away. The days right before the launch saw Apple hovering just around $120, but now the stock has been motoring up.
Maybe this time the hype and hope and expectations have truly been met.
Apple stock leaps almost 5%
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1. When does Pepsi split??
Posted at 6:48PM on Jul 3rd 2007 by georgpena