Thursday, September 16, 2010

Apple Inc (AAPL) - Leading The NASDAQ Higher

Today Apple Inc (AAPL) surged higher posting a new high close for the year.  This stock has been rising rapidly since August 27th and has rallied 17.4% in just a matter of weeks. Not bad for a $200 stock.

Over the past 13 days the NASDAQ has been outperforming the S&P500 primarily due to AAPL's  relative strength. Keep in mind that AAPL is the most heavily weighted stock in the NASDAQ representing about 14% of the QQQQ's holdings.

Volume was heavy today at 23.3 million shares which is above average for this stock. The high for the year made last June is at 279.01 and  is just a few dollars away. Today AAPL Inc. (AAPL) closed at 276.57 which is up 2.35% from Wednesday's close.

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