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Apple closes at new high of $648 on rumors of iPad mini, Apple TV

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Apple stock surged upward before reaching an all time closing high of $648, boosted by continued rumors of both a smaller iPad and a new Apple TV capable of presenting live broadcasts.

Apple's stock rapidly escalated early in the year after the company announced the results of a blowout winter quarter with the launch of iPhone 4S. After April however, the stock headed downward, reaching a trough of $530.

The stock has only inched up slightly since, gaining ground after the company's most recent quarterly earnings were announced, but never regaining the momentum seen earlier in the year.

Yesterday, the company distributed $2.5 billion in cash to its shareholders as its first dividend payment since the late 1990s, but rather than seeing its market capitalization drop by the same amount, the company's stock valuation gained over $11 billion today, reaching $607.54 billion.

While it's impossible to accurately explain the often seemingly irrational movements in stock prices, the company seemed to benefit from rumors surrounding an expected iPad mini and new forays into living room entertainment with an enhanced Apple TV offering support for live broadcasts.

Both products could extend Apple's lead in the tablet and Internet set top box markets, both of which have very distant second place competitors.

43 Comments

tallest skil 15 Years · 43086 comments

Uh, they're sure that their completely idiotic and unfounded rumors are the reason for this?

 

Does anyone really think that Apple would make ANY money by just joining up with the TV guys for a box like everyone else puts out?

 

I imagine it's the dividend doing this.

seankill 16 Years · 567 comments

I personally want to see apple enter the TV market just to see if they could pull it off. But the TV market looks to be a tough one, although i'm sure the iphone faced similar troubles.

 

Apple stock should go up because it looks like they will convert a long time PC user (me) to Mac. Though, I am a little worried about getting something new.

 

If the iPhone 5 turns out to be a good upgrade over the 4(S) then it will probably sell like hotcakes. I got my mother ready to buy one and my GF. If it is a good looking, nice phone, I'll be buying one as well. Assuming I can afford one after buying a Macbook lol

aaarrrgggh 19 Years · 1607 comments

The dividend is nice. Not much in percentage terms, but it let's me justify holding a little more even if I don't see huge long-term growth.

clementineorange 13 Years · 102 comments

Now that aapl is paying dividends there are a whole now set of stock portfolios that will be owning a piece.