Apple Inc. needs to go to trial to protect itself in opposition to US government claims that it collaborated with publishers to hike prices of electronic books, a lawyer for the Silicon Valley giant stated in court on Wednesday.
Two publishers took a same stance in the first hearing in Manhattan federal court since the anti-trust department of the Department of Justice previous week blamed Apple and five publishers of colluding to break up Amazon.com’s low-cost supremacy of the digital book market.
Its competitors include Google Inc (NASDAQ:GOOG) that increased 0.18% to $608.56 with the total traded volume of 1.21 million shares and Hewlett-Packard Company (NYSE:HPQ) that dropped -0.44% to $24.82 with the total traded volume of 5.55 million shares.
Other Technology stocks with bullish trend include Verizon Communications Inc. (NYSE:VZ) up 2.31% to $38.53, Research In Motion Limited (USA) (NASDAQ:RIMM) up 3.26% to $13.63 and Micron Technology, Inc. (NASDAQ:MU) up 0.71% to $7.12, whereas with bearish trend include Sprint Nextel Corporation (NYSE:S) down -4.76% to $2.40, Nokia Corporation (ADR) (NYSE:NOK) down -2.52% to $3.87 and EMC Corporation (NYSE:EMC) down -3.89% to $28.
Apple Inc. (NASDAQ:AAPL) dropped -1.49% or -$9.04 to trading at $599.30 at 12:00PM EDT following it hit intra day high level of $604.73. The total traded volume in the current trading session is 11.59 million shares as compared to average 26.41 million shares. Its fifty two week trading range was $310.50 – $644.00. The total market capitalization reached $559.38 billion.
The stock price was ahead its 52 week low price with 92.97% and it lagged behind -6.96% from its 52 week maximum mark. Stock price volatility for last month remained 2.45%. In its share capital, the company has 932.37 million outstanding shares out of which 931.83 million shares have been floated in the market. For now, stock ownership with company’s management remained 0.04%.
AAPL presented a negative weekly performance of -2.85% with respect to its rate of return and it remained 1.20% for the month. However, the performance for a quarter experienced a positive change of 41.77% and it surged 83.32% for a year and its year to date performance remained in green with 50.21%.
Current stock price is in the downbeat territory taking into account of 20 days moving average with -2.33% and continued bullish run for 50 days moving average with +6.07%. Its earning per share for the past twelve months was $35.11. Company’s beta coefficient was at 1.26. Beta measures the amount of market risk associated with market trade.
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