Apple shares hit new all-time high

Christmas PD5FM $10 discount“Apple Inc. shares reached their all-time high on Thursday as excitement builds over the expected release of its tablet computer,” Gabriel Madway and Doris Frankel report for Reuters. “Although Apple has never acknowledged that a device exists, anticipation is peaking as the company enters the new year.”

MacDailyNews Note: Today’s NASDAQ trading was shortened session. The market is now closed and will also be closed on Friday.

Madway and Frankel continue, “On Wednesday, the Financial Times reported on its blog that the company has rented a stage at a venue in San Francisco and will make a ‘major product announcement’ on Jan. 26. The report, which cited people familiar with the plans, did not say whether Apple would introduce the tablet at the event. Apple has declined to comment.”

“Although most analysts have not included the tablet in their financial estimates, many expect it to be significant for Apple, complementing its portfolio of iPhones, Mac computers and iPods,” Madway and Frankel report. “The median price target on Apple is $242.50, roughly 16 percent higher than its closing share price on Thursday.”

Madway and Frankel report, “Shares of Cupertino, California-based Apple rose as high as $209.35, passing their previous all-time high of $208.71, before closing up 3.4 percent at $209.04 on the Nasdaq.”

Full article here.

MacDailyNews Take: Merry Christmas, Apple shareholders!

18 Comments

  1. Let the silly season begin! Bring forth your ridiculous rumors, your wild hype, your Photoshopped “spy” photos and lies. Thrill as the next four weeks build up to a near-orgasmic crescendo of anticipation, false assumptions and boneheaded guesses. Then, if there is an announcement, watch the techno-tifosi swoon with disappointment over what should have been according to Michael Arrington (who, by the way, is NEVER wrong – just ask him).

    And get ready for a huge dose of stock manipulation, body slamming by Apple haters and competitors, insane “freeze the market” tricks by Steve Ballmer and more.

    As for me, I’m going outside and escaping the mad dogs and Englishmen.

    Happy Hollandaise, everyone.

    “He knows when you are sleeping. He knows when you’re awake – That’s disturbing.”
    – Tim Gunn (Project Runway)

  2. One possible reason for the huge upshot today may have more to do with “window dressing” by Wall $treet mutual fund managers than almost anything else. At the end of the year, after overly paid mutual fund managers realize what a cluster ____ they made of their customers’ investments, the managers have to prepare to disclose what stocks and bonds in which they invested. In order to look good, they frantically buy stocks that actually did well. Hence, the pop in Apple, wild tablet rumors notwithstanding.

    I tell ya, those fund managers are freakin’ brilliant! You’d typically do better over the long term buying a Spider or simply tracking the market, because these overpaid bozos rarely if ever keep up with the Dow or the S&P;500.

    As for me, I’ll sleep comfortably by holding on to good investments (like the Apple stock I bought at a split-adjusted $8 per share when all the smart money on Wall $treet believed those wise words of Michael Dell – yeah right).

    Merry Christmas, children.

  3. Will 2010 finally be the year that AAPL surpasses MSFT in market cap? I’d say it’s a 60/40 chance. If it happens, I will drink an entire bottle of red by myself. The young kid in me once believed that Steve Jobs would win in the long run and the only thing that remains to prove this is the market cap. Here’s hoping 2010 is the year that Steve finally topple Bill.

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