Apple's stock bounces back to hit a new high

[Omaha Steve]

Source: AP-Excite

By MICHAEL LIEDTKE

SAN FRANCISCO (AP) — Apple's stock touched a new high Wednesday, reflecting investors' renewed faith in CEO Tim Cook's ability to outwit the competition and expand the technological hit factory built by the late Steve Jobs.

The milestone represents a dramatic turnaround in sentiment since Apple's shares reached its previous split-adjusted peak of $100.72 in September 2012. After hitting $101.09 Wednesday afternoon, shares closed up 4 cents at $100.57. That gave Apple a market value of $602 billion — by far more than any other publicly held company.

Apple's stock had fallen to a split-adjusted $55.01 in April 2013 to wipe out about $300 billion in shareholder wealth amid worries that the Cupertino, California, company had run out of ideas without Jobs as its mastermind. The anxiety escalated as sales of iPhones and iPads slowed amid the growing popularity of less expensive smartphones and tablet computers made by Samsung Electronics and other rivals relying on Google's free Android software.

Now, there are signs that Samsung's devices are losing momentum while Apple prepares to release the next version of its iPhone this fall and investors wait for Cook to deliver on his promise to introduce a product that will open up new opportunities. The breakthrough is widely expected to be a smartwatch that will include sensors to help people monitor their health.

FULL story at link.



FILE - In this June 2, 2014 file photo, Apple CEO Tim Cook gestures during the Apple Worldwide Developers Conference in San Francisco. Apple's stock touched a new high Wednesday, Aug. 20, 2014, reflecting investors' renewed faith in Cook's ability to outwit the competition and expand the technological hit factory built by the late Steve Jobs. (AP Photo/Jeff Chiu, File)


Read more: http://apnews.excite.com/article/20140820/us--apple-stock-af0f9428b3.html

[brooklynite]

1. Taking into account all the stock splits, I bought my shares at an effective price of.....

46¢

[yeoman6987]

3. Outstanding and that is great for you

I am not sure how much I "bought" them after all the splits, but I am doing pretty well too. So glad some great DUers were able to take advantage of the purchases.

[SeattleVet]

4. I got in late!

I bought at $22 many years ago. Before the recent split my cost basis had been $5.50/share (after the prior 2 splits).

Sure is nice seeing a 1500% gain on something!

[Brother Buzz]

2. Lieutenant Dan got me invested in some kind of fruit company.

So then I got a call from him, saying we don't have to worry about money no more. And I said, that's good!