After opening Friday morning, shares of Apple stock briefly grazed the $120 per share mark, setting a new record high for the company in the market (via AppleInsider). AAPL is currently trading around the $119 mark as of writing, giving the iPhone maker a nearly $700 billion market cap.

Apple announced its earnings for the first fiscal quarter of 2015 on Tuesday, reporting $74.6 billion revenue and 74.5 million iPhones sold on the strength of the iPhone 6 and iPhone 6 Plus. Apple shares previously almost hit today's record high, with a $119.75 price per share, in November of 2014, but regressed down to around $110 in the weeks since.

apple stock
Many analysts remain bullish on Apple's stock, predicting that the company's shares are undervalued and could trade for up to $130 or higher within the next year. With the immense popularity of the iPhone 6 and 6 Plus only growing, and the confirmation of the Apple Watch's launch this April, such predictions may not be far off.

Tag: AAPL

Top Rated Comments

DeadSeaMac Avatar
121 months ago
And it's still undervalued even after the split.

Oh wait...the :apple:iWatch is going to be a bust....

Sell now!
Score: 3 Votes (Like | Disagree)
IJ Reilly Avatar
121 months ago
The consensus one-year target is $129, just 9% above today. So this is not a signal that analysts as a whole think the shares are "undervalued." It is in fact a rather modest projection of future growth. Also, for every analyst who believes the stock will "trade for up to $130 or higher within the next year," another believes it will be less, this being the definition of averages.
Score: 2 Votes (Like | Disagree)
IJ Reilly Avatar
121 months ago
Did you buy at 119.99? :D

I'm just glad my pre-split 700s (right below the top back then) that I held are now looking good after going through that down period of looking so bad. I also bought and sold more below that number though.

Heh! No, I think I bought around 79, or whatever the pre-split equivalent was. It looks as though my LT gain was over $13K.

If people are gonna brag, I will have to report that my cost basis for AAPL is about $0.50 a share, and I didn't get that by trying to guessing when I should trade in and out.
Score: 1 Votes (Like | Disagree)

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