Apple (AAPL) NewsBite - AAPL Rises 1.6% Ahead of Announcement
Posted: Wednesday, September 01, 2010 10:00 AM EDT
By: Market Intelligence Center Staff
Apple (NASDAQ: AAPL) opened at $247.50. So far today, the stock has hit a low of $246.87 and a high of $247.97. AAPL is now trading at $247.10, up $4.00 (1.64%). Over the last 52 weeks the stock has ranged from a low of $164.11 to a high of $279.01. AAPL shares are on the move ahead of its much-anticipated product announcement today. AAPL has not released any information about the announcement in advance, though market watchers are speculating that the announcement could involve a live streaming service. Ahead of the 10 AM PDT announcement, an analyst at Morgan Stanley upgraded the stock to Equalweight from Underweight. Technical indicators for the stock are bullish and S&P gives AAPL a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on AAPL the stock seems like it could be a candidate for a September out-of-the-money bull-put credit spread below the 220 range. [ABR-Seven Summits Strategic Investments NewsBite]
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