Apple Inc. (AAPL) traded on unusually high volume on Sep. 12, as the stock lost 1.24% to close at $221.07. On the day, Apple Inc. saw 48.96 million shares trade hands on 420,243 trades. Considering that the stock averages only a daily volume of 31.57 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $229.67 and $149.16 over the last 52-weeks, its 50-day SMA is now $204.55, and its 200-day SMA $182.12. Apple Inc. has a P/B ratio of 7.43. It also has a P/E ratio of 18.5.
Apple Inc is designs, manufactures and markets mobile communication and media devices and personal computers, and sells a variety of related software, services, accessories, networking solutions and third-party digital content and applications.
Headquartered in Cupertino, CA, Apple Inc. has 123,000 employees and is currently under the leadership of CEO Timothy D. Cook.