Apple Inc. (NASDAQ:AAPL) stock gaps up with production note that suggests Apple is on track with their release of the iPad 2 later this week
Apple Inc. (NASDAQ:AAPL) stock gaped up this morning reaching a high of $355.05 just two minutes into regular market trading over a comment by FBR Capital Markers that the company is on top of iPad 2 production, the devices are slated to be launched this upcoming Wednesday. AAPL has so far fallen back into the intraday range, however the morning gap has yet to be reclaimed.
AAPL is still rebounding from the 50 SMA which it rode through the first half of last week before accumulating enough bullish momentum to loft itself out of a rut. AAPL is also gaining technical strength, and has risen from oversold on stochastic. On balance volume is now comparatively healthier today than when AAPL last reached the standing 12-month high of $364.90 per share.
Apple Inc. (AAPL) designs, manufactures and markets a range of personal computers, mobile communication and media devices, and portable digital music players. The company also sells a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The company has a market value of $322,719,610,284 at the time of writing, with 917,307,000 shares outstanding.