Strength in Apple, Nike, Starbucks Despite Lower Market
In mid-day trading on Monday the stock market traded lower, with the Dow falling around 60 points. The S&P 500 had shed 0.32 percent while the Nasdaq was down 0.20 percent. A number of prominent stocks, however, are bucking the market trend on Monday. These include Apple (NASDAQ: AAPL), Starbucks (NASDAQ: SBUX) and Nike (NYSE: NKE).
Apple shares traded up around one percent to $628.00 at last check. The strength in AAPL is helping the Nasdaq outperform the Dow and S&P 500. The stock has risen almost 11 percent over the last 3 months, and the stock is closing in on new all-time highs which would come into play above $644.00.
Starbucks traded up around 1.30 percent in mid-day trading. The stock has lost around 16 percent over the last three months after a disappointing earnings report in late July. Prior to the current downtrend, SBUX had hit a new all-time high above $60.00 in April.
Nike shares were up a little less than one percent on Monday. This stock has been extremely resilient despite a number of disappointing earnings reports in 2012. The stock hit a 2012 low at the end of June and has been moving higher ever since. The 52-week and all-time high in the stock is just below $115.00, which compares to its current price of roughly $95.00.
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