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!

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