Apple Shares Flirt with All-Time High
Apple Inc (NASDAQ:AAPL) is helping lead a technology rally today with its shares rising as the new iPhone 4S hit stores today. By midday, the stock traded as high as $418.86, near its all-time intraday high of $422.86 from Sept. 20.
While introduced to a lukewarm response, the iPhone 4S drew long lines at stores across seven countries as consumers jumped on first-day sales. The phone is projected to see record-breaking sales of up to 4 million units over the weekend. This will surpass the previous record set by the iPhone 4’s first-weekend sales of 1.7 million last year.
Don’t Miss: Tim Cook: Genius or Complete Fool?
Getting a bounce from the iPhone 4S sales today are the three U.S. wireless carriers that are offering the phone: AT&T Inc (NYSE:T), Verizon Communications (NYSE:VZ), and Sprint Nextel Corp (NYSE:S). While all three stocks rose, Sprint saw the greatest bounce with a 4 percent rise during the trading day. The stock is currently up 3 percent to $2.81.
This is the first iPhone Sprint (NYSE:S) has sold and it has bet a lot of the company’s future success on it.
Apple’s (NASDAQ:AAPL) stock is up 3.30% to $421.89 on the news. Shares are up 30.8% year to date. The stock has traded in a 52-week range between $297.76 and $422.86.
Don’t Miss: Apple Cheat Sheet: iPhone Event Recap.