“Apple’s stock had been more or less moribund until last week, when new estimates on industrywide tablet shipments suggested that the iPad’s market share remained strong at around 68 percent,” Bryan McCormick reports for OptionMonster. “Although that was a drop in percentage, the number of tablets shipped was nearly 50 percent higher than some prior estimates.”
“The stock rose strongly on those numbers and has been a primary reason that the Nasdaq 100 has relatively outperformed the other indexes,” McCormick reports. “the stock today hit a lifetime high [of $411.50] — AAPL’s top intraday price, though it did trade higher in the post-market after the company’s last earnings release.”
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McCormick writes, “Based on the move today, if the short-term momentum stays positive the stock could hit the $412 area or higher this week… APL could make it to the $440 area by year’s end as long as the trend remains intact.”
Read more in the full article here.