Investors React to Impending 3G iPhone
Apple stock (ticker: AAPL) closed the day up over $5 a share, at $153.70, upon refreshing earnings reports from industry bellwether Intel (ticker: INTL) and even more news hinting at the impending June release of the second generation iPhone with 3G capability. The stock continued its surge after hours, gaining an additional $1.07, to $154.77, at the time of this writing. While there is no doubt that the impending 3G iPhone release, and the continued near-embarrassing crushing of Apple's personal computer market share compared to the rest of the market, will do excellent things for Apple's stock, there is near term discomfort at Apple's upcoming second quarter earnings report, scheduled after the market closes next Wednesday, April 23.
Needless to say, near term, Apple's stock will likely continue its roller coaster ways. Apple is expected by most analysts to well outperform their conservative second quarter estimates, and there is no reason to expect to the contrary. Only time will tell....until the 3G iPhone is announced, and the iconic electronics company's stock will make massive leaps towards its record high of $202.96, last seen on December 27, 2007.
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