|
|
 |
 |
 |
 |
   |
APPLE BOBS ABOVE THE CHAOSFOR A COMPANY THAT HASN'T had a break in years, Apple Computer sailed through Wall Street's Oct. 27 near-panic. Even as the Dow fell 7%, Apple rose 1/16, to 16 7/8, making it the only winner in the S&P 500 that day. The reason: Analysts were expecting interim CEO Steve Jobs to announce that he would stay permanently after returning from a Hawaiian vacation. After the market closed, however, the Apple co-founder said he would not keep the job and promised to hire an outside CEO by yearend. As the market rebounded on Oct. 28, Apple shares rose 1 1/4 to 18 1/8. ''A tide like that lifts all boats, even the creakiest,'' says J.P. Morgan Securities analyst Daniel Kunstler.
EDITED BY KELLEY HOLLAND
|
Updated Oct. 30, 1997 by bwwebmaster
Copyright 1997, by The McGraw-Hill Companies Inc. All rights reserved.
Terms of Use