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Wednesday, June 16, 2004, 02:00 pm PT (05:00 pm ET)

AAPL closes at 3 year high

Apple (AAPL) stock continued to demonstrate relative strength today as it extended its uptrend to yet another new 3-year high.

Shares of AAPL traded above $33 for part of the day and closed at $32.74, up $2.05 or 6.68 percent on a volume of more than 16 million.

Following yesterday's introduction of iTunes for Europe, Apple stock closed at a previous high of $30.69.

Earlier today, BusinessWeek ranked Apple No. 74 on its Info Tech 100 Scoreboard with revenue of nearly $7.2 billion, revenue growth of more than $23 million, return on equity of 3.8 per cent, total shareholder return of 79 per cent, and profit of $169 million.