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Surprise Rise

July 26th, 2007

Surprise! Apple sold more iPhones than it seemed from the AT&T report yesterday. Almost twice as many, in fact. Not a million in ten days, as many thought, but they fully expect a million sales by September. But what really surprised the market was the earning report overall: record sales. A 33% increase in computer sales over the same quarter last year, and 150,000 more computer sales than any quarter in the company’s history. Considering that the OS is two years old and many people are doubtlessly waiting to buy a Mac for when Leopard is released in October, that’s pretty damned impressive.

Clearly, I’m not the only one who thinks so: while Apple stock rose $2.23 (1.65%) during the day’s trading, it has shot up an amazing additional $11.38 (8.3%) at this time in after-hours trading, to stand at $148.50 per share–and is still rising. Yesterday would have been an incredibly good time to buy Apple stock….

An addendum, however: an element of the stock’s fall and rise is tied to the NASDAQ exchange, which fell 2% yesterday, and rose again today, along with other indexes. This undoubtedly helped Apple’s movement in both directions.

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