Product Sales and Expectations Lift Apple Stock
September 3rd, 2007 at 3:00 PM - Apple Stock Watch by John Martellaro
A nexus of events, iPhone current and projected sales and possible iPod announcements on Wednesday have lifted Appleis 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 Appleis 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.
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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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