“Apple hit intra-day today, November 13, which is the equivalent of $794.15 per share before its 7 for 1 split earlier this year,” Chuck Jones writes for Forbes.
“Today’s almost $2 increase or about $13 pre-split may be largely attributable to Toni Sacconaghi at Bernstein raising his target price from $110 to $120 and citing that margins could increase in 2015,” Jones reports. “Yesterday Steve Milunovich at UBS raised his from $115 to $125 based on iPhone survey results that especially pointed to strong demand in China for Apple’s new iPhone 6 and 6 Plus which is probably also helping.”
Jones writes, “While Apple’s stock continues to hit all-time highs its important to keep in mind the current financial metrics vs. the ones from two years ago when the shares hit an intra-day high of $705.07 or $100.72 on Friday, September 21, when the iPhone 5 was launched.”
Read more in the full article here.