Stocks’ big reversal lower Wednesday dashed hopes for Apple (AAPL) to pull out its biggest winning streak since September. If the stock had closed higher on Wednesday, that would’ve been its fourth straight gain. Apple hasn’t seen consecutive positive action like that in about four months. Shares rose as much as 1.2% in slightly above average volume Wednesday morning, but sold off with the general market, closing down 2.6% lower. Despite the
The end of last year brought a host of predictions about how Apple (AAPL) might spend its more than $200 billion in cash and investments. Currently the Cupertino, Calif.-based company is using its cash on hand for stock buybacks and dividends. But some on Wall Street are itching for Apple to pull off a big acquisition with its pile of dough. The latest speculation has Apple among those interested in buying TV and movie giant Time Warner (TWX),
Stocks reversed lower Wednesday, putting a damper on hopes for Apple (AAPL) to pull out its biggest winning streak since September. If the stock were to close higher on Wednesday, that would be its fourth straight gain. Apple hasn’t seen consecutive positive action like that in about four months. Shares rose as much as 1.2% percent in slightly above average volume Wednesday, but the stock was hovering in and out of red territory by the afternoon.