Special dividend

Chart of the day: Apple shares spike suddenly on high volume

March 11, 2013: 4:29 PM ET

No hard news, just rumors of a large buyback or special dividend

Apple spike

Click to enlarge.

FORTUNE -- After trading down all day -- and all year, for that matter -- Apple (AAPL) began moving higher at 2:26 p.m. Monday and didn't stop until it hit resistance at $438. The stock closed at $437.87, up $6.15 (1.42%) for the day.

Wall Street watchers were left scratching their heads.

  • Why is Apple headed down again? Here's one theory

    The third selling wave since Sept. 21 could be the bursting of a special dividend bubble

    FORTUNE -- For Apple (AAPL) investors wondering why the company has been, as Economic Timing's Jason Schwarz puts it, "in sell-off mode for over two months, even in the midst of its greatest quarter of sales in history," Schwarz offers an explanation.

    He believes the current wave of selling is linked to the co-called special dividends MORE

    - Dec 5, 2012 10:45 AM ET
  • Apple's cash plan: 3 options (updated)

    Most likely scenario: ongoing dividend. Less likely: special dividend or stock buyback

    UPDATE: Apple chose options Nos. 1 and 3:

    A 2.65% quarterly dividend, starting in fiscal Q4, which ends in September. Expect this to cost more than $10 billion in the first year alone.
    A $10 billion stock repurchase plan starting in fiscal Q1 2013 spread out over the next three years, primarily to offset share dilution due to incentive stock grants.

    Total MORE

    - Mar 19, 2012 6:16 AM ET
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