Tim Cook has talked about this being an “iPad Christmas”, but plain calling it an Apple Christmas might be altogether more accurate — as Apple surged to a 2013 new stock high following news of the recent China Mobile deal.
Apple stock gained 3.8 percent to end Monday trading at $570.09, reflecting what Creative Technologies analyst Tim Bajarin has called, “a huge deal for Apple.”
Although it hit several year highs over the past several months, Apple stock prices had been depressed for some of 2013 as investors appeared concerned regarding a supposed lack of innovation from the company.
More recently, share prices had wavered as nervous shareholders fretted that the long-reported China Mobile deal wasn’t happening as fast as they hoped.
Although analysts are still arguing over the long-term impact the China Mobile deal is likely to have, this strong year finish nonetheless bodes well for Apple in 2014.
Twitter, Facebook, and Google shares also finished strong after the day’s trading.
Source: San Jose Mercury News
Luke Dormehl is a U.K.-based journalist and author, with a background working in documentary film for Channel 4 and the BBC. He is the author of The Apple Revolution and The Formula: How Algorithms Solve All Our Problems … and Create More, both published by Penguin/Random House. His tech writing has also appeared in Wired, Fast Company, Techmeme and other publications.
2 responses to “Apple Has Clearly Been Good This Year As Stock Surges To 2013 High”
Give me a break. Apple hasn’t yet recovered from last year’s horrendous share price fall. It’s about $130 share lower than last year while Google, Amazon and Netflix and practically every other profitable company in the world had gone straight up with the rest of the stock market. Only Apple alone took a drop from Mt. Everest into the bottom of the Grand Canyon. Sure, Apple has made some gains but it isn’t even close to getting back what it lost and that may never happen. Thank Tim Cook for not using that mountain of reserve cash to acquire some businesses to keep Apple share price on some firm footing. There’s nothing preventing Apple’s share price from taking another nosedive while Google, Amazon, Netflix and Priceline remain impervious to shareholder damage. Apple should have easily been strong enough to prevent the collapse last year if Tim Cook hadn’t been sleeping at the helm. Jeff Bezos is always making moves to strengthen the company in the long run while Apple’s moves aren’t effective at all.
Wall Street is just oblivious to what Apple is doing. The stock price is anything but an indicator of how well the company is doing. Apple is doing just great!