Apple's Stock Set Up For 10th Straight Gain

By Tomi KilgoreMarketsMarketWatch Pulse

Apple Inc.'s stock edged up 0.2% in premarket trade Thursday, which sets it up to post a 10th straight gain. The technology giant's stock has had a 10-session win streak since the 10-day stretch ending Oct. 18, 2010. Qualcomm Inc. commentary late-Wednesday while reporting quarterly results suggests the chip maker's patent dispute with Apple wasn't likely to reach a settlement for at least a year, according to BMO Capital analyst Tim Long. Apple's win streak comes as the Nasdaq 100 is also on track to post a 10th straight gain to another record, with e-mini Nasdaq 100 futures up 0.1% ahead of the open. Apple's stock has rallied 30.4% year to date through Wednesday, while the Nasdaq 100 has run up 21.6% and the Dow Jones Industrial Average has climbed 9.5%.

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