Apple 2.0

Covering the business that Steve Jobs built

Apple hits a new all-time high

January 18, 2012: 10:08 AM ET

Breaks through previous intraday record of $427.75 set last week

UPDATE: Apple closed Wednesday up $4.41 (1.04%), to hit a new all-time high of $429.11. At one point in afternoon training it hit $429.47.

- - -

Apple (AAPL) quickly set a new intraday high Wednesday and kept climbing in early morning trading, although it's not clear why.

It could be that investors are moving into the stock ahead of next week's quarterly earnings report. Or because analysts have been raising their price targets (Wednesday it was Mike Abramsky's turn, upping RBC's target to $525 from $500). Or in response to reports of strong iPhone sales and rumors of an iPad 3 coming in March.

Or maybe just because the whole market was up.

Join the Conversation
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.

Email | @philiped | RSS
Current Issue
  • Give the gift of Fortune
  • Get the Fortune app
  • Subscribe
Powered by WordPress.com VIP.