Apple Inc. (AAPL) Fights Scalpers in Hong Kong

Previous problems with scalpers forced Apple (NASDAQ:AAPL) to launch a new lottery system for the Hong Kong Apple (NASDAQ:AAPL) online store.

Customers wanting an iPhone will now be required to provide information such as photo ID to reserve it. Reservations will only be available during a three-hour period each day. The chosen “winners” will be emailed by the end of the day. Customers will not be able to purchase an iPhone by walking in off the street.

The previous reservation system had issues with bots that would ping the server all day and reservations would be gone almost instantly once they were made available.

Here’s how shares of Apple and  some of its competitors are reacting to the news today:

Apple Inc. (NASDAQ:AAPL): AAPL shares recently traded at $456.14, up $3.13, or 0.69%. They have traded in a 52-week range of $310.50 to $454.45. Volume today was 12,239,840 shares versus a 3-month average volume of 12,744,400 shares. The company’s trailing P/E is 12.98, while trailing earnings are $35.14 per share.

Nokia Corporation (NYSE:NOK): NOK shares recently traded at $5.05,. They have traded in a 52-week range of $4.46 to $11.75. Volume today was 37,363,179 shares versus a 3-month average volume of 30,541,400 shares. The company’s trailing earnings are $-0.41 per share.

Microsoft Corporation (NASDAQ:MSFT): MSFT shares recently traded at $29.54, down $0.07, or 0.24%. They have traded in a 52-week range of $23.65 to $29.95. Volume today was 33,843,936 shares versus a 3-month average volume of 54,909,000 shares. The company’s trailing P/E is 10.71, while trailing earnings are $2.76 per share.

Research In Motion Limited (NASDAQ:RIMM): RIMM shares recently traded at $16.61, down $0.41, or 2.41%. They have traded in a 52-week range of $18.02 to $70.54. Volume today was 17,851,323 shares versus a 3-month average volume of 24,615,100 shares. The company’s trailing P/E is 3.91, while trailing earnings are $4.25 per share.

Google Inc. (NASDAQ:GOOG): GOOG shares recently traded at $578.43, up $0.74, or 0.13%. They have traded in a 52-week range of $473.02 to $670.25. Volume today was 1,527,555 shares versus a 3-month average volume of 3,054,930 shares. The company’s trailing P/E is 19.44, while trailing earnings are $29.76 per share.

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To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com