New Apple product
This is where Apple's product launch, scheduled for tomorrow, has timely resonance. For once it's not how cool, clever and shiny the product is expected to be that's captured everyone's imagination but how cheap.
The new MacBook is rumoured to have an entry price of around $800 - £465 in today's money - which definitely takes it out of the luxury category. If investors have been selling Apple stock due to concerns about the luxury goods market, this news may be restoring their confidence.
Aside from that, the chart pretty much speaks for itself. Distributors are still being avoided, especially Avnet, which announced plans to acquire European distributor Abacus last week. Yahoo! has been dropping precipitously, prompting some investors to long for a Microsoft acquisition at a price far lower than it was prepared to pay a few months ago.
The biggest loser in the past five days has been AMD. Having experienced a lift after it finally revealed the nature of its asset smart strategy, AMD's shares have plummeted by 17 percent since the 8th October.
Perhaps the revelation that former AMD chairman and new chairman of The Foundry Company - Hector Ruiz - will be paid $1,150,000 per year and will be eligible for an annual bonus of $4.6 million (SEC filing here, go to Item 5.02) in his new role has been a contributing factor.
The FTSE 100 figure was taken after the market in London oened and incoprorates the jump of around five percent over its losing price of last week experienced at that time.
| Company | Listing | Share price 29/9/08 | Share price 6/10/08 | Share price 8/10/08 | Share price 13/10/08 | 5-day change | Market cap (bn) |
|---|---|---|---|---|---|---|---|
| AMD | AMD | 4.29 | 4.53 | 4.59 | 3.81 | -17.0% | 2.31 |
| Apple | AAPL | 105.90 | 97.07 | 89.16 | 96.80 | 8.6% | 85.75 |
| Avnet | AVT | 23.90 | 21.74 | 19.95 | 16.99 | -14.8% | 2.56 |
| Dell | DELL | 15.41 | 15.25 | 13.55 | 13.29 | -1.9% | 26.03 |
| GOOG | 390.08 | 386.91 | 346.01 | 332.00 | -4.0% | 104.40 | |
| HP | HPQ | 44.55 | 43.00 | 39.68 | 37.00 | -6.8% | 90.62 |
| IBM | IBM | 114.46 | 103.44 | 95.65 | 87.75 | -8.3% | 118.89 |
| Ingram Micro | IM | 16.20 | 14.88 | 13.78 | 12.81 | -7.0% | 2.12 |
| Intel | INTC | 17.25 | 17.31 | 16.02 | 15.19 | -5.2% | 85.40 |
| Microsoft | MSFT | 25.10 | 26.32 | 23.23 | 21.50 | -7.4% | 196.30 |
| Nvidia | NVDA | 10.08 | 9.03 | 7.24 | 6.81 | -5.9% | 3.79 |
| Tech Data | TECD | 29.34 | 27.72 | 25.24 | 22.57 | -10.6% | 1.14 |
| Yahoo | YHOO | 16.90 | 16.00 | 14.58 | 12.29 | -15.7% | 17.03 |
| Dow | .DJI | 10365.45 | 10325.38 | 9447.11 | 8451.19 | -10.5% | N/A |
| FTSE 100 | .FTSE | 4818.77 | 4738.60 | 4330.05 | 4163.41 | -3.8% | N/A |
| NASDAQ | .IXIC | 1983.73 | 1947.39 | 1754.88 | 1649.51 | -6.0% | N/A |
