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.