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January 13, 2005

Apple Shares fly today (update 1)


Apple

Following yesterday's announcement from Apple computer on first-quarter earnings that soared past expectations thanks to strong sales of its popular iPod digital music player, Shares of Apple Computer Inc. surged 11 percent today. Apple shares traded $7.20 higher at $72.66 this morning on the NASDAQ Stock Market, above its 52-week high of $70.70 set on Monday. Even with the stock surge Apple executives warned Wall Street veterans not to expect similar success in upcoming quarters. Apple cautioned that the introduction of the Mac Mini and iPod shuffle products unveiled at the MacWorld Expo by Steve Jobs would make it difficult to provide accurate financial guidance for the rest of the year. Th iPod Shuffle starts at $99. The 40-gigabyte Mac mini will cost $499, an 80-gigabyte model $599.

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