Shares of Apple reach new all-time high of $120 after record holiday quarter
Apple's best-ever quarter has turned into serious gains for the company's stock price, which reached new all-time highs during intraday trading on Friday, briefly reaching the $120 threshold.
Shares of Apple touched the $120 mark multiple times just after the market opened Friday morning. The stock was unable to break that barrier, however, facing resistance beyond that barrier.
Prior to Friday's gains, Apple's previous all-time intraday trading high came on Nov. 25, 2014, when shares of the iPhone maker peaked at $119.75. The company's stock later cooled off and closed that day at $117.60.
If shares of AAPL can maintain their current levels until the end of trading today, the company could exceed its all-time-high closing price of $119 achieved on Nov. 26, 2014.
After peaking at $119 in November, Apple saw its stock price fluctuate around the $110 range for a few months. But the stock has seen significant gains this week following the results of its first quarter of fiscal 2015, in which the company sold an astonishing 74.5 million iPhones, blowing away market expectations.
Apple's blockbuster quarter caused analysts to raise their price targets on shares of the company, with many on Wall Street predicting that Apple will trade at $130 or higher in the next year. But with each day's gains, that $130 price range gets closer.
The most lofty projection for shares of AAPL comes from billionaire activist investor Carl Icahn, who set a price target of $203 last fall. Following this week's results, Icahn said he will revisit his estimates and potentially increase them, as he believes Apple is a "no-brainer" investment.
Shares of Apple touched the $120 mark multiple times just after the market opened Friday morning. The stock was unable to break that barrier, however, facing resistance beyond that barrier.
Prior to Friday's gains, Apple's previous all-time intraday trading high came on Nov. 25, 2014, when shares of the iPhone maker peaked at $119.75. The company's stock later cooled off and closed that day at $117.60.
If shares of AAPL can maintain their current levels until the end of trading today, the company could exceed its all-time-high closing price of $119 achieved on Nov. 26, 2014.
After peaking at $119 in November, Apple saw its stock price fluctuate around the $110 range for a few months. But the stock has seen significant gains this week following the results of its first quarter of fiscal 2015, in which the company sold an astonishing 74.5 million iPhones, blowing away market expectations.
Apple's blockbuster quarter caused analysts to raise their price targets on shares of the company, with many on Wall Street predicting that Apple will trade at $130 or higher in the next year. But with each day's gains, that $130 price range gets closer.
The most lofty projection for shares of AAPL comes from billionaire activist investor Carl Icahn, who set a price target of $203 last fall. Following this week's results, Icahn said he will revisit his estimates and potentially increase them, as he believes Apple is a "no-brainer" investment.
Comments
There will probably be quite a few anti-Apple critics claiming that the $120 mark is like breaking the sound barrier. Once Apple exceeds that number, Apple's wings will fall off and break apart and Apple will go down in flames.
There will probably be quite a few anti-Apple critics claiming that the $120 mark is like breaking the sound barrier. Once Apple exceeds that number, Apple's wings will fall off and break apart and Apple will go down in flames.
At the very least, AAPL seems to have run out of wind.
I don't think it has stopped its ascent... just going to take a breather.
What traders like to call "resistance" is completely phony and just part of traders trying to psyche each other out.
At the very least, AAPL seems to have run out of wind.
I don't think it has stopped its ascent... just going to take a breather.
AAPL is a behemoth and doesn't make quick moves in either direction. The stock makes large moves much slower than smaller companies.
AAPL should continue to beat the S&P almost every day for awhile. Take advantage of the slow moving behemoth with some trades if you have some dry powder laying around.
What traders like to call "resistance" is completely phony and just part of traders trying to psyche each other out.
It's like that drop down to $109... Really?!?! Do these guys think everyone is that stupid.
The consensus EPS estimate for Apple for 2015 (49 analysts contributing) is $8.40.
At $120, that's a PE ratio of 14.3x. This number includes $180B in cash, which earns almost nothing: so the PE ratio of Apple's operating assets, which is its earnings-generating business, is substantially lower, at 10.7x.
That's absolutely ridiculous, imho.
What was Apple's guidance for next quarter?
What was Apple's guidance for next quarter?
http://www.apple.com/pr/library/2015/01/27Apple-Reports-Record-First-Quarter-Results.html
"Apple is providing the following guidance for its fiscal 2015 second quarter:
You're right, but they said the same thing about $700 ($100 post split).
Screw those morons.
What was Apple's guidance for next quarter?
reply deleted (duplicate response)
$120 is nice but $200 is even better. Keep kicking ass AAPL and sorry I ever doubted you Tim.
We see $140 this year IMO.
Holding 800 shares common.
Sold $150 strike covered calls expiring in Jan 2016.
Keep this in mind:
Google showed 15% revenue growth this Quarter
Amazon showed 15% revenue growth this Quarter
Apple showed 30% revenue growth this Quarter
Yet Google shares cost 80% more on PE basis. Amazon is 1000%+ more expensive.
Keep in mind Apple made more operating profit in Dec quarter than Google made the ENTIRE YEAR.
If Apple continues to grow revenue 15-20% the next 2 quarters this will easily see $140 this year.
If Apple grow revenue 25% we see $150 this year.
Good investment. I just invested in AAPL last week at $106 for 300 shares. I'm dancing now to. My portfolio is quite aggressive now with majority money in AAPL. Do I need to diversify it? Probably not until end of 2015. I'm looking at another blow out quarter ended in Mar after Chinese New Year and Valentine. Trust me, iPhone is a dream gift in China for these two events next month.
There will probably be quite a few anti-Apple critics claiming that the $120 mark is like breaking the sound barrier. Once Apple exceeds that number, Apple's wings will fall off and break apart and Apple will go down in flames.
Haha...another troll just joined AI in Oct 2014. We'll see him often bashing Apple.
Steffen Jobbs-brought to you by Samsung. LOL.
Shares of Apple touched the $120 mark multiple times just after the market opened Friday morning.
So is Apple the world's first trillion-dollar company yet?
Not yet, but I personally have little interest in those metrics. If the company keeps innovating and delivering great stuff people want, that's what matters.
So is Apple the world's first trillion-dollar company yet?
The more they repurchase, the tougher that'll get....
Not yet, but I personally have little interest in those metrics. If the company keeps innovating and delivering great stuff people want, that's what matters.
I agree... that being said, there is something inherently wrong when companies like Google and Amazon have high stock valuations even though they make less. If they applied that screwed-up logic to AAPL, it would have certainly been a $1T+ company a while back.