AAPL Closes at 52-Week High, Tops $190 Per Share

| Apple Stock Watch

Shares in Apple Inc. traded higher Tuesday, closing at a new 52-week high at US$190.01 per share, a gain of $3.986 (+2.14%). Volume was strong for the stock, with 21.5 million shares trading hands, well above the average volume of 16.7 million shares.

The rise came amidst a broader tech rally sparked in part with the announcement that electronic manufacturer Avocent would be purchased by manufacturer Emerson Electric Co. The deal put investors in a buying mood, and the result was a 2% gain on the Nasdaq and a broad rally.

Apple has been the subject of several target price increases and rating bumps from analysts in recent week, with UBS (new price target of $265 per share), Morgan Stanley (bump to $210), Oppenheimer ($210), Thomas Weisel ($210), and Piper Jaffray ($235) all sharing a rosy outlook for Apple in the near and medium term.

Apple was trading in the $180 per share range when that wave of upgrades hit last week, and today's close is the highest since December 29th, 2007, when the stock closed at $199.83 per share.

*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.  

Sign Up for the Newsletter

Join the TMO Express Daily Newsletter to get the latest Mac headlines in your e-mail every weekday.

Comments

Bryan Chaffin

Apple has had quite the year, to say the least.

Log-in to comment