Apple Stock Hits $135
by , 11:00 AM EDT, July 13th, 2007
52 weeks ago Apple's stock was selling for US$50.16. It has been on an upward trend since then, and on Friday morning broke $135 a share. The company's increasing value has been credited to its innovative products including Mac OS X, the MacBook and MacBook Pro, the iPod, and now the iPhone.
With the iPhone in customer's hands, analysts are now looking to see what Apple has up its sleeve next. Many analysts, including Piper Jaffray's Gene Munster are expecting to see new iMac models before fall.
"Based on Apple's product road map and the fact that the iMac has not been updated in 309 days (versus a product average of 168 days) we also continue to expect redesigned iMacs this summer," he said.
New iPods may also be in the works that run OS X, much like the iPhone does, and the October release of Mac OS X 10.5 is also expected to help keep Apple's stock moving forward.
Apple's market cap is currently at $116.77 billion, up from $45 billion this time last year. The company has already passed Dell and Oracle's market caps, and financial analyst Georges Yared is predicting that it will blow past IBM and Intel, at $145 and $161 respectively, within the next 18 months.
The Mac and iPod maker's innovative product designs have helped to strip away the "beleaguered" title it was shackled with a few years ago and turn it into a Wall Street favorite. If Apple can keep up the momentum of its exciting products, it will likely be able to keep analysts happy for some time to come.
Apple is currently trading at $135, up 0.93 (0.69%).