Product Sales and Expectations Lift Apple Stock
Product Sales and Expectations Lift Apple Stock
by , 2:15 PM EDT, September 4th, 2007
A nexus of events, iPhone current and projected sales and possible iPod announcements on Wednesday have lifted Apple's stock dramatically, according to MarketWatch on Tuesday.
Expectations are that Apple will revamp its line of iPods, not substantially changed in a year, for the holiday shopping season. However, recent news of Apple's iPhone sales have also contributed to the rise into the US$140s on Tuesday.
Recently, Apple stock was depressed along with the rest of the market in the Subprime credit crisis, but it has rebounded dramatically since mid-August.
Analysts, including Gene Munster, are also expecting Apple to sell 2 million Macs this quarter. Mr. Munster has set an "outperform" rating for AAPL and a target price of US$211.
Apple stock at this time is trading at just under $US144.
If you are interested in Apple's stock, join our forum members in the Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.
In the interest of full disclosure, the author holds a small share in AAPL stock that was not an influence in the creation of this article.
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