AAPL Crosses $232 for New Record Ahead of iPad Launch

Apple Stock Watch

Bryan Chaffin

4:46 PM, Mar. 29th ET, 2010

Articles by Author Bryan Chaffin on Twitter Contact Author Bio

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Shares in Apple Inc. closed higher Monday as investors pushed the stock up to a new record ahead of the company’s iPad launch April 3rd. The stock closed at US$232.39, a gain of $1.49 (+0.65%), on moderate volume of 18.5 million shares trading hands. The stock traded as high as $233.8699, which was an intra-day high.

Morgan Stanley analyst Katy Huberty told clients in a research note Monday morning that she expects Apple to sell 2.5 million iPads during its first quarter of availability, and more than six million during the current fiscal year, according to Marketwatch. She estimated that Apple’s bottom line benefits by 25 cents for every million units sold.

*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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1 Observer Comment

Lee Dronick

said on March 29th, 2010 at 4:37 PM (Edited: 10/18/2011 6:20 PM):

I wonder what will happen on Monday. From what I can remember we always seem to have high AAPL prices before a product is released followed by a drop the next trading day.

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