iPod Hype Drives AAPL Up

August 29th, 2007 at 3:00 PM - Apple Stock Watch by Jeff Gamet

Interest and speculation over what music-related announcements Apple has in store for its September 5 media event has caught the eye of investors. The Mac and iPod makeris stock has been climbing for the past few days, and topped US$137 Thursday morning.

Rumors and predictions over what Apple will spring run from new touch screen iPhone-like iPods to over-the-air music downloads, HD video at the iTunes Store, and an exclusive deal to offer The Beatles music library.

Even though Appleis stock is on the rise compared to the past few days, it is still several points below where it was a few weeks ago when investors saw closing numbers up over $148.

Despite the lull that has kept Apple in the $120 to $130 range, analysts are still optimistic about the companyis long term prospects. American Technology Research analyst Shaw Wu set a target price at $185, and Piper Jaffray analyst Gene Munster set his target price at $205.

Apple is currently trading at $137.726, up 3.646 (2.72%).

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