Last week, we noted that Apple (AAPL) had had a nice little run-up on the iPad hype and that, often, when stocks have nice little run-ups on hype, they trade off on the actual news.Not Apple.
Apple traded up on the hype and then up on the actual news. Even though the news fell short of most people’s expectations.
Ah, well. Good for Apple.
But don’t get cocky!
We suspect that what’s really going on here is that Apple is now trading up on another flavour of hype–the hype surrounding the announcement of the forthcoming iPhone 4.0 operating system, which will take place on Thursday.
THEN, maybe, the stock will sell off on the news. Or not.
In any event, at this rate, the company’s market-cap should soon surpass Microsoft’s.
And for those who have followed tech since the 1990s, that will be nothing short of a miracle.
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