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Apple Boosted By "Cyber Monday" Sales

First Posted: 03/28/08 03:45 AM ET Updated: 05/25/11 01:20 PM ET

Apple Sales


Shares of Apple Inc. rose Tuesday morning after an analyst noted online demand for iPods outstripped supply during the "Cyber Monday" shopping spree.

Shares gained $1.89 to $174.43 after the opening bell.

Morgan Keegan & Co. analyst Tavis C. McCourt kept his "Market Perform" or "Hold" rating on the Cupertino, Calif., computer company. After the Cyber Monday and Black Friday rush, the 8-gigabyte and 16-gigabyte versions of the iPod Touch are on backorder at some of the Internet's leading retailers, and the 80-gigabyte iPod Classic is on backorder at least at one, he said.

Read the whole story: AP


Filed by Michelle Kung  |