Apple Touches $200 in NASDAQ Trading

Telecom News Editorials Reports Glossary

6:05 am on December 29, 2007 | Category: Business, Cell Phones, Corporate

Cupertino, California-based 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 long-anticipated iPhone device in the U.S. market on June 29. The company finished yesterday at $199.83, up $1.26 from Thursday’s close.

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.