Shares in Apple closed up $2.33, or 4.86%, on volume of 20.98 million shares. The companyis previous 52-week high at market close was set on October 19 at $48.35. Appleis current market value stands at $19.69 billion.
The new close is Appleis highest since September 2002.
Also on Wednesday, Merrill Lynch analyst Steven Milunovich raised his estimates on Apple for the fiscal first quarter ending December to earnings of 42 cents per share on revenue of $2.95 billion, up from earnings of 40 cents per share on revenue of $2.85 billion.