Apple’s stock price has rallied to its highest price in two years, on dramatically higher volume than usual. The stock closed at 25.16 on Thursday, up 5 percent for the day and the highest it had closed at since May of 2002.
Apple stock remained active in after-hours trading and continued its rally on Friday morning, briefly popping up to 27.49 on 17.68 million shares traded. Apple’s average volume is less than one-third that amount. Apple was trading at 26.98 in mid-day trading as MacCentral posted this article, up 7.23 percent.
Apple has been in the financial news a bit lately: The company’s iPod mini was released a couple of weeks ago and appears to be a sell-out in many retail locations, with Apple reporting a one to three-week backlog in orders.
Apple CFO Fred Anderson and Corporate Controller Peter Oppenheimer also spoke to investors and analysts at this week’s Morgan Stanley Semiconductor & System Conference, where they painted in broad strokes Apple’s plans to increase iPod distribution, its hopes for the marketplace and its plans to become a $10 billion company once more.