1. fresh1's Avatar
    Apple shares crack $300 en-route to new all-time high

    By AppleInsider Staff

    Published: 09:40 AM EST

    Apple stock rose roughly 1% in pre-marketed trading Wednesday to a new all-time high, surpassing the $300 milestone for the first time in the company's history.

    Shares of the Mac and iPhone maker have been on a tear in recent weeks, rising more than 25% since late August when the stock sat at just over $240.

    The Cupertino-based company became the world's second largest corporation in perceived market value late last month after shares hit $290, boosting its market cap to $265.8 billion, ahead of PetroChina's $265.5 billion.

    Wednesday's early gains have since pushed the company's cap north of $275 billion, placing it roughly $55 billion behind Exxon-Mobil, the largest company in the world, which was valued at $329.44 billion when the markets closed Tuesday.

    Despite the surge, financial experts say the company isn't showing any signs of slowing down. A poll by Thompson / First Call of financial institutions who offer coverage of Apple reveals the mean price target on its shares currently sits at $350, with one firm placing a target on the gadget maker as high as $430.

    Consensus expectations are that shares will continue to appreciate in the short term, especially as Apple prepares to report results from its fourth fiscal quarter of 2010 next Monday, which will include the first full quarter of iPhone 4 sales.

    On average, analysts expect the company to report per-share earnings north of $4.00 for the three-month period ending September on revenues of approximately $18.76 billion.

    Recent market research data also indicates that Apple continues to hit on all cylinders, demonstrating strength in all of its core business segments as the lucrative holiday shopping season rapidly approaches.

    In particular, the company is expected to see a boost from its fledgeling tablet business, with one analyst estimating that sales of iPads are already contributing more than $3 billion in revenue per quarter after being on the market just six months.

    For a detailed look inside Apple's fundamentals and where the company's share price may be heading, please see AppleInsider's two-part series Apple $400:

    LINK TO ARTICLEAppleInsider | Apple shares crack $300 en-route to new all-time high

    10-13-2010 12:52 PM
  2. ghostface147's Avatar
    I just sent steve a congratulations email. He's only ever replied to me once before, but who knows. It never hurts to say congrats.
    10-13-2010 12:55 PM
  3. touchyphone's Avatar
    WOW, jealous of my grandpa who purchased tons of shares of apple in like 1994 when it was $7.50 a share....damn he better buy me a nice chirstmas gift this year
    10-13-2010 01:17 PM
  4. jairo1daywrk4apple's Avatar
    lmao, can you believe my dad in like 93 told my mom "i think we should buy apple stock, they might be coming out with some new technology soon" my mom replied "No hunny thats a waste of money, lets invest in something else"
    10-13-2010 01:26 PM
  5. anon(27512)'s Avatar
    WOOO hoo! Come on !!
    10-13-2010 02:46 PM
  6. jairo1daywrk4apple's Avatar
    They were one of the only companies that did not have a detrimental drop in their stocks when the economy fell 2-3 years ago =) Apple is KING =)
    10-14-2010 02:31 PM
  7. TampaDude's Avatar
    Steve Jobs for Emperor!
    10-14-2010 03:28 PM
  8. Robert Waldroup's Avatar
    The problem now is that apple's share price has nowhere to go but down. And since stocks are only really a measure of the market's confidence in the company - and since skilled investors will shy away from such stocks that have already peaked - any less-than-smashing success on Apple's part will cause a dip. It has to not only live up to itself, but outdo itself. Which is hard at this point.
    10-14-2010 05:06 PM
  9. Dryland's Avatar
    Robert, I don't know what else apple can do at this point. However, continued success in each quarter will drive the stock price further upwards. Maybe an iPhone Pro version that comes "Jailbroken." That would drive the smartphone community wild and kill Android and WinMo7. Yea, I'm a dreamer.
    10-14-2010 05:31 PM