| Apple had an incredible day today on the stock market and closed at almost 60 for the first time in 7 years when it closed at 61 on the 27th of March, 1992. That's more than a 7 year high folks!
Today's trading was led by RedHat, the largest Linux vendor in the world, which had their IPO and gained almost 400%. That propelled the Internet and other Tech stocks up, inlcuding Apple and her PC competitors.
Apple closed at 59 11/16, a gain of 4 5/16 or 7.79%. Volume was heavy with 7,592,100 shares trading hands.
Intel, IBM, Hewlett-Packard, Gateway 2000, Dell, and Compaq all had strong days as well. IBM and Intel both own major stakes in RedHat.
The Dow and the Nasdaq also performed well with the Dow closing at 10787.80, a gain of 132.65 and the Nasdaq closing at 2564.98, up 74.87.
For more stories on Apple's stock performance, check out our Apple Stock Watch Special Report.
The Mac Observer Spin: It is dificult to believe that there will not be at least some profit taking on Apple's stock tomorrow, but it is great to see the stock soar to such heights. To think that Apple was trading in the low teens less than two years ago and to compare it to today's performance is just amazing. Steve Jobs, Fred Andersen, and the rest of the management team deserve some major pats on the back.
We will have more analysis on Apple's stock tomorrow.
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