Apple 2.0

Covering the business that Steve Jobs built

Apple sets new all-time record high

January 4, 2010: 4:37 PM ET

Bolstered by rumors and strong sales, AAPL has soared nearly 175% from its 2009 low

Riding piggyback on 1.5% rise in the Dow Jones Industrial Average, Apple (AAPL) opened the new trading year by posting an all-time record high Monday, closing 136 points above its 2009 low of $78.20, set on Jan. 20.

Shares closed Monday at $214.1, up 3.28 points (1.56%) for the day. The stock has climbed steadily since mid-December on reports of strong holiday sales and rumors that its long-awaited tablet computer may finally be ready to ship.

In the past 12 months, Apple has outpaced the Dow more than eight fold and may still have room to grow. The Street's median target for the stock is $247.5

[Follow Philip Elmer-DeWitt on Twitter @philiped]

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About This Author
Philip Elmer-Dewitt
Philip Elmer-DeWitt
Editor, Apple 2.0, Fortune

Philip Elmer-DeWitt has been following Apple since 1982, first for Time Magazine, and now on the Web for Fortune.com.

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