AAPL Dips, Recovers amid iPhone 5 Reports

June 21st, 2011 · 26 notes · #apple #iphone #5 #AAPL #stock #price

Apple (NYSE:AAPL), which closed at $316.68 on Monday, opened Tuesday heading downhill even further after news outlets reported Nokia would be offering phones with Windows Phone 7 in the near future. The partnership is thought to have a negative effect on Apple.

Before dropping below $316.05, news surfaced that Samsung was not working to solve the dispute with Apple, signaling to investors that Apple would come out on top in the lawsuit.

In addition, Oppenheimer lowered it’s target on AAPL to $420, however, despite the lower price, it was a reminder to investors that the stock would rally in the coming months, thanks to the iPhone 5 rumors swirling.

Boy Genius Report fed the rumor mills early in the afternoon, claiming that the iPhone 5 would not be a minor update like the iPhone 3GS was to the iPhone 3G. BGR reported that Apple would hold an event in August to showcase the new phone.

The reminders and news had a positive effect on investors as AAPL, along with the rest of the technology sector, performed well. At the day’s end, AAPL closed at $325.30, up 3.17%.

Microsoft, Google, Cisco, and Intel ended the day up 1.19%, 1.74%, 2.44%, and 1.52%, respectively.