Apple shares hit new all-time high after blow-out earnings report

Apple Store“Apple Inc. watched its shares jump past the $100 to set a new all-time high Thursday morning after the company reported an 88% surge in second-quarter earnings,” Dan Gallagher reports for MarketWatch.

Gallagher reports, “The results – reported after Wednesday’s close – blew past Wall Street’s estimates for the period. The boost to the bottom line came from strong sales of Mac computers and iPods as well as a drop in memory prices. Shares of Apple were up 5.35, or 5.6%, at $100.70 in early trading Thursday. That set a new all-time high for the shares, on a split-adjusted basis.”

Gallagher reports, “The Cupertino, Calif.-based electronics maker has seen its share price gain more than 50% in the last 12 months.”

“Most of Wall Street [are] bullish on the shares… Chris Whitmore of Deutsche Bank lifted his price target to $140 from $130. ‘We believe Apple’s share price will be supported by continued strong customer uptake of iPods, iPhones and new Mac product roll-outs.'”

Full article here.

14 Comments

  1. I wonder what “SELL SELL SELL” and “StockBoy” are doing now? Eating dog food probably, since they recommended we all “short” AAPL last summer when it was in the 50’s. It’s sad when any idiot with a keyboard can predict the future with impunity . . . and be so very, very wrong. (Sylvia Brown, anyone?)

  2. I too am stunned by the depth of stupidity of Apple’s detractors. I can think of few things that can stop Apple from making me rich in a few years time — my death, buying AAPL puts instead of calls if I get Alzheimer’s, … Apple is the closest thing you can find to a sure thing.

    Now my kids are investing in AAPL – not that they have to, as they stand to inherit a fortune in AAPL.

  3. AAPL BUY AND HOLD

    THIS HOLIDAY SEASON WILL BLOW YOUR MIND

    AAPL IS GOING HIGHER

    if it dips that is expected

    Microsuck is not making millionares any more

    AAPL IS !!!!!!!!!! ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

  4. Dearest Michael;

    It’s me again. I just wanted to mention something I forgot in my last missive to you: With the recent string of successes we’ve enjoyed here at One Infinite Loop, we’re all in particularly good moods. We’re enjoying quarter after quarter of phenomenal growth; we’ve got the iPhone shipping in a couple of months; our Macs can also run Windows; business at our stores is booming; and AppleTV is infiltrating America’s living rooms. So in this spirit of overwhelmingly upbeat joy, I wanted you to know that you’re welcome to stop by for lunch anytime you’d like. I realize you’re terribly, terribly busy these days with your own troubles — the reloading of XP instead of Vista on all those machines must be keeping you up at nights — and I thought I’d offer you a little respite from your worries.

    So, feel free to stop by and enjoy a crocodile tears latte in our company cafeteria. It’s a beautiful place to eat. Lots of sun. Oh, and I’d be remiss if I didn’t mention our delicious crow paninis. They’re all grilled. I think you’d enjoy one. They are indeed scrumptious. And Mike, I beg you: Please don’t worry — I’ll pick up the tab on this one. I can afford that, you know . . .

    SINCE MY COMPANY IS SO MUCH MORE SUCCESSFUL THAN YOURS ! ! ! ! !

    BWAAAAAAAAA-HA-HA-HA-HA-HAAAAAAHHHHHHHHH ! ! ! !

    Hey, be sure to call first. I’m always dying to use my iPhone any chance I get!

    Later.

    Yours Not-In-Jest,

    Steven P. Jobs

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