Apple Stock Rises Above $100 Per Share For First Time in Six Weeks
AAPL is up over 1 percent on the day at the time of publishing, contributing to a slight rise in the Dow Jones stock index on the day.
AAPL is still trading for markedly lower than its year-ago price of around $132, but some analysts believe the stock is undervalued and due for a breakout.
A few weeks ago, analyst Brian White of Wall Street brokerage firm Drexel Hamilton listed AAPL as a "buy" based on a target price of $185. Other firms like Goldman Sachs and S&P Capital IQ, a division of McGraw Hill Financial, have set lower price targets of between $120 and $130 in recent months.
Apple will release its fiscal third quarter earnings results on Tuesday, July 26 at 1:30 p.m. Pacific Time, with a conference call to discuss the report to follow at 2:00 p.m. Pacific Time. The third quarter will likely mark a year-over-year decline, based on Apple's guidance of between $41 billion and $43 billion in revenue.