Apple (AAPL) is Getting its Mojo Back
Shares continue to benefit from the upcoming cash distribution catalyst, speculation of a China Mobile deal, ho-hum reviews for Samsung's Galaxy S4, and a potential weak U.S. launch for BlackBerry's Z10.
On the technical side of the trade, shares crossed above the important 50-day SMA at $456.31 and EMA at $456.76. Shares of Apple last traded at $459.59.
On or before Q213 earnings, which is due on/about April 22nd, Apple is expected to make an announcement on its cash. A higher and/or special dividend, a higher and/or one-time stock buyback and a potential stock split are on the table. There's also David Einhorn's iPrefs idea, although that is considered a long shot. Interestingly on the stock split, Salesforce.com announced a 4-for-1 stock split today, driving the stock up 2 percent.