Apple (NASDAQ: AAPL) had a relatively uneventful week on the trading floor last week. Share prices started the week at $123.09 and closing on Friday at $121.30 for about a 1.5 percent loss on the week. A weekly high of $123.91 was reached on Tuesday and the low of $120.91 came during trading on Friday. Despite the lackluster stock performance, there were several positive items regarding Apple last week.
Apple (NASDAQ: AAPL) released its third quarter results shortly after the closing bell on Tuesday. Share prices proceeded to plummet nearly 7% in after hours trading (the drop off actually began shortly before the earnings call) even though it was yet another record breaking quarter for the Cupertino giant. After closing Tuesday at $130.75, prices opened Wednesday at $121.99. They recovered a little bit during large volume trading on Wednesday, closing at $125.22, and closed the week at $124.50.
Apple (NASDAQ: AAPL) released its third quarter financial results yesterday after the market closed and, despite more record breaking numbers, share prices took a nose dive in after hours trading, losing a bit over 7%. This was likely due to the numbers not quite reaching some of the lofty estimates offered by analysts over the last few weeks.
Apple (NASDAQ: AAPL) shares made gains on just about every day last week, opening Monday at $125.03 and reaching $129.62 (which was also the high for the week) by Friday's closing bell for a 3.7% gain on the week. Shares are at $131.83 as of this writing. The surge is no doubt due to a flurry of bullish reports from analysts in the days leading up to Apple's third quarter results call, which is tomorrow, Tuesday July 21 at 5:00 PM ET.
Last week was Apple (NASDAQ: AAPL) stock's most active week of trading since the last week of April, though it didn't end favorably. Share prices opened Monday at $124.94 and had a weekly low close of $120.07 on Thursday after reaching a low of $119.22 on that same day. That's the first time the company's stock has dipped below $120 since early February. Prices rebounded on Friday, gaining 2.67% to close the week at $123.28. Volume could increase this week with Apple's FY 2015 Third Quarter earnings call quickly approaching.