Apple Getting Hit Again ; Ticker Drops a Quick 4-5 pts

Shares of Apple (AAPL) are getting hit again. Ticker dropped a quick 4-5 points on jump in volume ; 27.4 million shares traded so far into the session vs a daily avg. of 20 mln.

Earlier today Apple had a sharp gap down as a result of rumors that Apple Chief Operating Officer Tim Cook was going to be offered Mark Hurd’s top spot at Hewlett-Packard (HPQ). But according to Gleacher & Co.’s Brian Marshall, who follows Apple, the rumor is not true.

“Tim Cook will not be going to HP, he loves Apple,” Marshall told Barron’s Eric Savitz, saying he had coffee with Cook this morning.

Tim Cook, Apple’s #2, is best known for taking over the management of Apple while Steve Jobs was on medical leave in 2009.

Shares of H-P are up 35 cents to $41.61 on this speculation. Apple shares are down $3.83 to $287.39 ; day’s range: $275.00 – $291.77.

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About Ron Haruni 1064 Articles
Ron Haruni is the Co-Founder & Editor in Chief of Wall Street Pit.

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