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Apple's Stock Keeps Rolling
Shares of Apple Computer shot up another $3.04 on news that the company will report an all-time-high quarterly revenue of $5.7 billion for the fourth quarter of 2005.
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SAN FRANCISCO — Shares of Apple Computer Inc. shot up another $3.04 Wednesday (Jan. 11) on news that the company's latest iMac computer, based on Intel's Core Duo processor, is in stores six months ahead of schedule and word that the company will report an all-time quarterly revenue of $5.7 billion for the fourth quarter of 2005.
After gaining 3.8 percent Wednesday, Apple closed at $83.90, a 52-week high. According to an Associated Press report, this also represents a split-adjusted all-time high for the company's stock.
Apple stock was up more than $4 in trading Tuesday, the day of the day Steve Jobs announced the early integration and record revenue.
Also Wednesday, Dow Jones reported that UBS raised its price target on Apple to $100 from $86 and maintained its "buy" rating.
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