After Apple lowered prices of personal computers, its sales and stock jumped.
From Connie Guglielmo and Brian Womack, Bloomberg :
July 22 (Bloomberg) -- Apple Inc. jumped as much as 4.5 percent in Nasdaq trading after price cuts attracted more first- time buyers for Macintosh personal computers last quarter, helping sales and profit top analysts’ estimates.
Mac sales accelerated after Apple sliced prices in June, Chief Operating Officer Tim Cook said yesterday. The company sold 2.6 million Macs, beating the 2.4 million predicted by Shaw Wu, an analyst at Kaufman Bros. in San Francisco. Sales of the iPhone also topped estimates.
“The Mac sales were huge,” said Wu, who recommends buying Apple shares and doesn’t own them. “Their business continues to hold up really well.”
