Apple (AAPL) shares today set yet another all-time high, touching $275, and briefly reached a market cap of just over $250 billion – a quarter of a trillion bucks. Among U.S. listed stocks, the only company with a higher market cap is Exxon Mobil (XOM) at $297.3 billion. A few weeks ago, Apple surpassed Microsoft (MSFT) – now worth $230.4 billion – to become the stock market’s most highly valued technology company.
The latest move in the stock has been propelled by continued strong demand for the iPad and better-than-expected pre-orders for the iPhone 4, which hits the market later this month. As I noted earlier, there have been a flurry of bullish notes on the company this morning, and the positive reports keep coming.
Ergo, Standad & Poor’s analyst Clyde Montevirgen today repeated his Strong Buy rating on the stock,� while lifting his price target on the sock to $320, from $310. He also raised his FY 2010 EPS estimate by 16 cents to $14.14; for FY 2011, his forecast moves up 36 cents, to $18.31. He now sees calendar 2010 handset units of 42 million, up from 40 million, based on better-than-expected pre-orders for the iPhone 4.
Earlier: Apple: More Love From The Street; Cowen Starts At Outperform
Edging back from earlier highs, AAPL is now up $2.36, or 0.9%, to $274.23, for a market cap just a hair under $250 billion.
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