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Apple shares jump over 6% today after getting hammered for several weeks

Apple stock sees a nice 6% increase today after declining from its high just two months prior

| Business, Financial & Legal News | Posted: Nov 19, 2012 8:27 pm

Apple's (AAPL) stock has jumped by over 6 percent today, bringing it's value up to $561.45 per share. This increase is in stark contrast to the past few weeks in which Apple stock had been in a near-continual state of decline and shed over 20 percent of its per-share value. The decline started shortly after the iPhone 5 announcement.

 

TweakTown image news/2/6/26828_1_apple_shares_jump_over_6_today_after_getting_hammered_for_several_weeks.png

 

The value of the stock is still not close to the $700+ value it had reached two months ago, but it's better off than it had been. Stock prices have recovered due to strong sales of mobile devices in China, fresh rumors of a new iPhone 5 successor that is scheduled to be released in the summer of 2013, and Apple having the full catalog of AC/DC music on iTunes.

 

Several analysts still expect Apple stock to continue to increase, with most pegging the price around $760 in the next 12 months. One analyst, Brian White of Topeka Capital Markets, expects Apple to reach $1,111 a share in that same time period. He released a note saying the recent selling of Apple stock was "insanely insane."

 

Apple is definitely still a company to watch, though stock performance hasn't been as strong as it once was. We'll be sure to keep you up-to-date on all things Apple.

NEWS SOURCE
News.cnet.com

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