Shares of Apple (NASDAQ:AAPL) have not closed above their 50-day simple moving average since October 4; but made that technical breakthrough Friday afternoon, and the move could have positive long-term implications. That Apple is finally trading above this benchmark level gives analysts a shard of evidence that shares may have finally reached bottomed after their six-month decline, which began after the stock hit its all-time intraday high of $705.07 on September 21.
Since investors began selling off last fall, it has followed a downward trendline. But that line, which has tracked Apple’s intermittent rally peaks, was finally broken on Monday. And that upward trend has lasted the week; at Friday’s close, shares were up by $9.18, or 2.03 percent, at $461.91 — a jump that pushed Apple’s stock above the 50-day moving average and to a weekly gain of 4.11 percent.
Here’s a cheat sheet to today’s top Apple stories:
Apple is Shaking Things Up
While Apple’s iMac, iPhone, and other devices all feature sleek and sensuous designs — a nearly seamless mesh of aluminum and glass that converge to create some of the most clean and aesthetically pleasing hardware on the market — there is one thing at Apple that is the total opposite of all of that: the company’s inter-division communication abilities. Traditionally, even the engineers who designed the iOS system were not brought in on the details of the hardware that would be running the software that they created.
Last October, Apple announced that it was going to shake up its management a bit in order to increase collaboration between departments. Although it has helped slightly — in the design division, the teams are warming up to each other — many barriers remain… (Read more.)