Apple shares blast past $60, up more than 14 percent on massive volume in early trading

Apple Computer (AAPL) shares surged more than 14 percent on massive volume in early NASDAQ trading Monday after Piper Jaffray raised its price target on the stock to $100 from $52, citing bullish expectations for iPod sales. Separately, Fulcrum Global raised its target to $65 from $53 and lifted fourth-quarter revenue estimates, forecasting strong demand for iPods and new flat panel iMac G5s. Apple shares were last up 12.92 percent at $62.30, and earlier touched a high of $64.

NASDAQ Apple quote (15 minute delay) here.

Related MacDailyNews articles:
PiperJaffray raises price target from $52 to $100 on Apple shares – November 22, 2004
Apple Computer shares jump in pre-market trading after Piper Jaffray raises target to $100 – November 22, 2004
Survey: 13% of iPod owners have switched, plan to switch to Mac from Windows within 12 months – November 22, 2004

17 Comments

  1. The last time AAPL split, the price was at $100 and change…. Someone has their numbers wrong when they said $42…. In fact, the stock hit the $120’s during the build up to the split. Post split price was around $54 before dropping down into the teens during the recession.

  2. For an eye-opening comparison that you know is making Billy G. scream into his pillow at night, look at this…
    Compare AAPL-MSFT-DELL-HPQ-NASDAQ

    Apple is valued at almost 300%, 3 TIMES, what it was just 1 year ago. This curve is exponential! This is great news for the short term, but nothing can continue to rise at such an exponential rate forever. Such rates of change cannot be accurately extrapolated out into a reasonable forecast. We’ll just have to hold on tight and enjoy the ride.

    Billy G. knows that it is MSFT’s poor news that is providing much of the fuel for this AAPL rocket.

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