When the rest of the market is tanking, the company's shares offer a relatively safe haven
On Monday, when the Dow opened down $250, Apple (AAPL) rose $11.13 (2.78%) to close at a new record $411.63. On Tuesday, Apple opened at $415.35 and hit $422.86 shortly after noon.
UPDATE: Apple closed Tuesday nearly where it started, at $413.45, up $1.82 (.44%) for the day.
To put Monday's close in perspective:
Apple shares were up MORE
Philip Elmer-DeWitt - Sep 20, 2011 7:33 AM ET
Fortune's curated selection of newsworthy tech stories from the last 24 hours. Sign up to get the newsletter delivered to you every day.
* Sources tell All Things D that HP (HPQ) is laying off as many as 525 employees whose work related to (now-defunct) webOS hardware. Indeed, in a statement, HP confirmed layoffs start this week but declined to specify the number. (All Things D)
* As reported yesterday, Google Wallet is now live, MORE
JP Mangalindan, Writer-Reporter - Sep 20, 2011 3:30 AM ETNetflix's bold move to split itself into two business is being heralded by many. That doesn't mean it won't be fraught with difficulties.
FORTUNE -- In applauding Reed Hastings' decision to split Netflix (NFLX) into two separate companies, one for streaming and one (to be called Qwikster) for the "legacy" DVD business, several commentators have cited The Innovator's Dilemma, Clayton Christensen's much heralded 1997 book about how to deal with fundamental MORE
Dan Mitchell, contributor - Sep 19, 2011 3:54 PM ET
But phone and tablet sales are weaker, and 32% brought a TV to school, down from 73%
A relatively small survey from Hudson Square Research -- 158 students in eight U.S. colleges and universities interviewed over the past three weeks -- nonetheless yielded some striking results. According to a note to clients issued Monday by Hudson Square's Daniel Ernst:
69% of returning students said they spent less than last year on technology MORE
Philip Elmer-DeWitt - Sep 19, 2011 3:54 PM ET
Expect two new models and expansion into untapped U.S. and Chinese carriers
Data: Apple Inc. via J.P. Morgan
J.P. Morgan's Mark Moskowitz, one of the last holdouts on Wall Street, has come around to what has become conventional wisdom among Apple (AAPL) watchers: That the company is set to release not one but two iPhones, an iPhone 5 and what Moskowitz calls an iPhone 4-plus.
In a report to clients Monday he describes MORE
Philip Elmer-DeWitt - Sep 19, 2011 12:14 PM ET
IBM's general manager for growth markets explains why the rapid urbanization of the world's second most populous continent represents an unparalleled business opportunity.
By Bruno Di Leo, General Manager, IBM Growth Markets
FORTUNE -- The urbanization of Africa offers great hope for hundreds of millions of people -- if the infrastructure can keep up. And technology holds huge promise to make building that infrastructure faster and more efficient.
The 955 million people MORE
Sep 19, 2011 11:02 AM ET
The Senate hearings scheduled for Wednesday will only scratch the surface
Source: Google
Apple (AAPL) is conspicuously absent from the witness list for Wednesday's hearing on "The Power of Google" before the Senate Judiciary Subcommittee on Antitrust, Competition and Consumer Rights. Yelp! and Nextag will be represented, but Google (GOOG) has stepped on a lot more toes than theirs to maintain and extend its dominance of the Internet's sustaining source of revenue MORE
Philip Elmer-DeWitt - Sep 19, 2011 7:38 AM ET
Fortune's curated selection of newsworthy tech stories from the weekend. Sign up to get the newsletter delivered to you every day.
* Late last night, Netflix (NFLX) announced via blog post that it is totally separating its DVD business from the streaming business and dubbing the former "Qwikster." Qwikster will be run by ex-Netflix exec Andy Rendich and will have separate user accounts, movie ratings and billing. Coming soon to the newly-christened service: Xbox 360, MORE
JP Mangalindan, Writer-Reporter - Sep 19, 2011 3:30 AM ET
A rare glimpse at what he had in mind for the company nine months before his return
Source: Wall $treet Week
The spring and summer of 1996 was an important period of transition for Steve Jobs. Pixar, which had gone public the previous November, had lost half its market cap. NeXT was collapsing. And in a matter of months Jobs would sell what was left of the company -- its NextSTEP MORE
Philip Elmer-DeWitt - Sep 18, 2011 2:31 PM ET
A collection of delusional quotations, courtesy of Business Insider's Jay Yarow
Source: Asymco
Touchscreen smartphones have finally taken their toll on the venerable BlackBerry. As the Asmyco chart at right shows, BlackBerry shipments (green line) hit a wall in early 2011 and have been headed south ever since.
Did Mike Lazaridis and Jim Basille, Research in Motion's (RIMM) co-founders, underestimate the threat posed by Apple (AAPL)?
You bet they did -- loudly, repeatedly and MORE
Philip Elmer-DeWitt - Sep 17, 2011 5:48 AM ETEvery morning, discover the companies, deals and trends in tech that are moving markets and making headlines. SUBSCRIBE
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| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.24 | -0.06 | -0.89% |
| Ford Motor Co | 12.28 | -0.46 | -3.61% |
| Frontier Communicati... | 4.20 | -0.27 | -6.04% |
| Juniper Networks Inc... | 21.65 | -0.72 | -3.22% |
| Cisco Systems Inc | 19.58 | -0.25 | -1.26% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,666.14 | -68.49 | -0.54% |
| Nasdaq | 2,813.49 | 8.21 | 0.29% |
| S&P 500 | 1,315.99 | -2.44 | -0.19% |
| Treasuries | 1.91 | -0.02 | -1.19% |
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