Cupertino, Californiabased consumer electronics giant, Apple Inc., opened above
$200 on the NASDAQ for the first time ever yesterday, after a year of
unprecedented global success.
Apple’s stock has more than doubled in value over the course of 2007, gaining
62.3% since launching its longanticipated iPhone device in the U.S. market on
June 29. The company finished yesterday at $199.83, up $1.26 from Thursday’s
Apple’s flirtations with $200 are of little surprise to Wall Street analysts,
most of whom have price targets of more than $200 for Apple. Piper Jaffray
analyst, Gene Munster, currently has the highest target for Apple at $250, while
Stanford C. Bernstein & Co. analyst, Toni Sacconaghi has the lowest at $175.
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