“Apple shares closed higher Friday, the first day its 7-for-1 stock split was in effect, and the pros are already speculating about when the stock will hit $100,” Michelle Fox reports for CNBC.
“GVA Research’s David Garrity said it will likely happen before the iPhone 6 launch, expected in September,” Fox reports. “‘The iPhone 6 launch is a big retail event and splitting the stock obviously makes it more within reach of the retail investor … You could get a pop in the stock and pay for your iPhone at the same time,’ he said in an interview with CNBC’s ‘Closing Bell.'”
“Granite Investment Advisors’ Tim Lesko said, ‘Apple remains a really cheap stock,'” Fox reports. “He thinks it will move in the direction of $100 in the next six to eight weeks.”
Full article, with video, here.