Apple trades at $200 for the 1st time EVER.

ultrablue662 · 27th December 2007, 17:15

Quote:

By RACHEL METZ, AP Business Writer Wed Dec 26, 1:51 PM ET

NEW YORK - Shares of Apple Inc. hit the $200 mark for the first time Wednesday, as investor confidence in the company continued rising near the end of what has been a strong year for the iPod and computer maker.

In afternoon trading, shares rose $1.17 to $199.97. They earlier peaked at $200.

Apple shares have traded between $76.77 and $199.33 in the past year, rising steadily since January as investors anticipated and then cheered the release of the company's hybrid cell phone, multimedia player and wireless Internet device, the iPhone. The product went on sale at the end of June.

Apple released a refreshed line of iPods during the year, updating its flash-based Nano model to one that can play videos, and introducing a device called the iPod Touch which is much like an iPhone without cellular calling capabilities.

The company also refreshed its notebook computers during the year.

In a phone interview Wednesday, Caris & Co. analyst Shebly Seyrafi said he wasn't surprised that Apple hit the $200 mark.

"Apple has a lot of momentum right now," he said, noting the company is riding several new product cycles.

Seyrafi, who rates the stock "Buy" with a $225 price target, said sales of the iPod Touch and video-enabled Nanos are helping Apple's margins. Apple's component costs are benefiting from declines in NAND flash memory prices, he added.

"Looks like their business is strong even though retail sales growth in general appears to be weaker than in prior years," Seyrafi said.

Yes, I know not everyone loves business news as much as I do but seriously. in the last 3 years I have seen Apple's stock go from 28ish to 200. Unbelievable. A company that keeps its fans happy, and its shareholders even happier... in 2008. who'd have thunk it?

dandantheitman · 29th December 2007, 01:09

I bought my stock in Apple at $92 a share way back when they shifted to Intel.. If it Hits $220 I shall be selling and making myself a cool $8000 - and some change.

Dan

ultrablue662 · 4th January 2008, 13:18

Nice! When I was in the US for school, ages ago it seems, Apple was selling for around 32 bucks a share. I PLEADED for my father to lend me some cash. his response was "You always have to be different, its a phase thing, study and dont think you know everything, if you did you'd know it's a microsoft world."

HE can be so short sighted sometimes.

29th December 2007, 01:09	#2 (permalink)
dandantheitman Senior Member Join Date: Apr 2006 Location: Myrtle Beach, SC. Posts: 726	Apple Stock trade.... I bought my stock in Apple at $92 a share way back when they shifted to Intel.. If it Hits $220 I shall be selling and making myself a cool $8000 - and some change. Dan

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4th January 2008, 13:18	#3 (permalink)
ultrablue662 Senior Member Join Date: Sep 2006 Location: Abu-Dhabi Posts: 794	Nice! When I was in the US for school, ages ago it seems, Apple was selling for around 32 bucks a share. I PLEADED for my father to lend me some cash. his response was "You always have to be different, its a phase thing, study and dont think you know everything, if you did you'd know it's a microsoft world." HE can be so short sighted sometimes.