AAPL Surges to over $110 As DJI Gains Nearly 1,000 Points

by , 4:40 PM EDT, October 13th, 2008

On Monday, after weekend of frantic maneuvering by world financial leaders, the Dow Jones Index rose nearly 1,000 pts, carrying Apple from its 52 week low of $85 on Friday to over $110 on Monday.

In what some are attributing to (courageous) bargain hunters buoyed by the efforts of the G20 nations to support the global banking system, the DJI rose an astounding 938 points and the NASDAQ rose nearly 200 with almost every major tech stock moving upwards.

The previous one-day record gain was 499 points back in 2000 during the so-called dot-com boom.

Apple which closed at US$85 on Friday was helped by after hours trading over the weekend and finished at $110.26 on Monday -- a gain of over 13 percent for the day.

Whether this means a return to the steady rise in fortunes of Apple over the summer or is just one more fluctuation in the daily turmoils of the banking industry remains to be seen. Investors are also expecting good news on Tuesday when Apple will announce new notebooks. The AAPL stock price 24 hours from now could well reflect whether or not investors have confidence that Apple's notebook pricing will put severe heat on the competition in an industry that expects to fight for every consumer penny for some time to come.

If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.