Apple Shares Bounce on Steve Jobs Health Announcement (AAPL)

Tom Reese/Paul


Apple Inc. (AAPL) shares are rallying after Steve Jobs

confirmed he had been losing weight in 2008 due to a hormone imbalance, but he

has begun treatment for the condition.

The company will certainly need to address the succession

factor at some point, so that any further Steve Jobs concerns can have less of

an impact on the company's franchise.

The Bottom Line

Shares of Apple had a tough 2008, losing over 55%. and do have technical

support in the $68-72 area. If the shares can stabilize and begin to move

higher, the $100-$111 price area would be the area of initial overhead

resistance. We like to monitor the stock as a main tech gauge for investors.

Apple Inc. (AAPL) does not currently pay a dividend.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well

as a detailed explanation of our ratings

system here.

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