Apple's stock price responds bullishly to unveiling of Apple iPhone 5

Apple's stock price responds bullishly to unveiling of Apple iPhone 5
So what do stock investors think about the new Apple iPhone 5? So far, it looks like those who buy and sell shares of the Cupertino based tech titan are bullish on the latest iteration of Apple's smartphone. On Wednesday, Apple closed up $9.20 or 1.4%, to $669.79. After hours, the stock rose an additional $1.41 to $671.20. As the event started on the west coast, traders in the Big Apple started selling shares of the iPhone manufacturer before a big rally in the last hour led to the day's gains.

You might recall that last year's Apple iPhone 4S introduction was considered disappointing with no change in screen size or design. Last October 4th, the day the Apple iPhone 4S was announced, the stock was $372.50, down $2.10 on the day. Now that the Apple iPhone 5 has been released, the next big event for Apple shareholders could be the next earnings report due on October 15th. Also expected sometime next month is the unveiling of the Apple iPad mini. Both of those events are capable of moving the stock sharply in either direction.

source: YahooFinancial


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