Apple hits new all-time high; likely to inspire tears of joy from even the most stolid of bulls

“Apple Computer (AAPL) has rallied to another new all-time high today, spurred northward by positive musings from Merrill Lynch. The brokerage firm upped its 12-month (pre-split) target on AAPL above the psychologically significant century mark, boosting it 20 percent to $102 from $85. Reacting to the fact that Sony’s President shared the stage with AAPL head Steve Jobs at MacWorld, Merrill hypothesized that the two firms may be exploring business ventures with one another,” Beth Gaston Moon writes for SchaeffersResearch.com.

“APPL’s price chart is likely to inspire tears of joy from even the most stolid of bulls. The stock has increased nearly seven-fold since mid-2003 and has overcome previous all-time highs in the 75 region,” Gaston Moon writes. “As exemplified by Merrill Lynch’s vote of confidence earlier today, analysts have become to warm to AAPL. According to Zacks, there are a combined 12 ‘buy’ and ‘strong buy’ ratings on the stock, compared to five ‘holds.’ What is odd is the one lingering outright ‘sell’ on a stock that continues to produce dazzling technical and fundamental results.”

Full article here.

MacDailyNews Note: AAPL is currently trading up $3.34 at $87.97 per share, and earlier today hit a high of $89.08.

Related MacDailyNews articles:
Apple’s decision to split its stock shows company has high expectations for the future – February 11, 2005
Apple announces two-for-one stock split – February 11, 2005

45 Comments

  1. Ah Hindsight. Wish I would put more in back in the day. At least I got some though and I am on for the ride. I should at least be able to buy a top of the line Mac with the profits – if I can ever bring myself to sell.

  2. Hey, MDN, what’s up with the pop-up ads? That’s no way to treat your friends, sonny boy. You keep that up and you aren’t gonna get invited to play anymore.

    Magic word is “dead” – sounds kinda ominous, doesn’t it?

  3. And the day closes with Apple having a market cap in excess of Sony -$35.545 billion vs. SNE’s $35.426.

    Doubtless they will swap positions several times over the next few weeks, but then Apple will release Q2 figures around the 10th April and all Sony will see will be a clean pair of heels as Apple starts making tracks towards a $40 billion market cap.

    It’s worth bearing in mind that Apple was only worth $13.388 billion as recently as the 5th September 2004. Since then, it has increased in value by over 165%, whilst SNE has increased by “only” 9.32%.

    Even the allegedly beleagured HPQ has increased in value by 18.17%, although this looks pretty shabby when compared to Macromedia’s 103% gain.

    However, spare a thought for people who bought into MSFT. Somehow, this bull run has left them behind and they’re nursing a loss of over 3.75%.

  4. Since my 100,000 shares of Apple bought in 2001 @ $13.25 has done so well I’m going to sell them all in the morning for those who want to grab some. The tax man is going to get his share but meanwhile the marriage proposals just keep coming.

  5. Charlie:

    I would have thought that the $1.3 million you would have needed in the first place would have made you popular enough ” width=”19″ height=”19″ alt=”wink” style=”border:0;” />

  6. I don’t know you guys but I sold my load of AAPL at ~70, bought them back when a couple days they were back at ~64, sold again yesterday.

    It is an exciting moment. Now my problem is when to buy them again.
    It is thousands & every operations. I am now just short of the 6 digit value and it started with a mere $16,000 investment.

    THANK YOU APPLE.

    NoMacForYou: buy Dell, you’ll thank me later, much much much later. But you know it is what you deserve.

    UHAHAHAHOHAHAH what a LOSER!

  7. If this Apple “stock” is so good, then why can’t I buy it at CompUSA or Best Buy. I asked the Geek Squad® guy at Best Buy about it and he said they don’t sell Apple toys. Right on!

    Holy crap, my Mom’s yelling at me because I’m going to miss the school bus. Gotta go.

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