Apple shares open at new 52 week high

Apple shares open at new 52 week high
Update: Piper Jaffray analyst Gene Munster now leads Wall Street with a target price of $670 for Apple's stock. Munster calls Apple his top play for 2012 and expects a monster (not Munster) launch for the Apple iPhone 5 later this year.

We remember a time in the early 1980's when John Sculley was running Apple and the stock was trading at about $12. Fast forward to today and Apple's NASDAQ traded common stock has opened at a new 52 week high of $457. The nearly 8% gain on Wednesday morning can be attributed to that monster Q1 earnings report that Apple announced after Tuesday's closing bell. Setting a quarterly record for both Apple iPhone and Apple iPad sales at 37.4 million and 15.43 million respectively, the company's results blew past even the most optimistic analyst's guess of 36 million iPhones sold in the fiscal year's first quarter. At the same time, Apple also bested the analysts' average guess that the company would sell 13.5 million iPad tablets in the same three month period.

Without getting too technical, part of the rise in Apple's stock on Wednesday is from "short-covering". Traders who believe a stock is too high and is ripe for a fall can borrow a company's stock and sell it in the hopes of buying it back later at a cheaper price. Think buy low,sell high in reverse. These bearish short-sellers need to eventually buy back the stock before they lose everything and when you see a big rise like today's action, the shorts try to end their financial suffering by buying back the stock to meet their commitment.

Since the original Apple iPhone launched, Apple's stock has run 368% from $122.04 to the current price. Since the launch of the Apple iPad, the stock has gone up from $346.67 to the current price for a gain of 30%. Today's rise not only takes Apple's stock to a new 52-week high, it is also an all-time high as well.

source: Yahoo!



1. SuperAndroidEvo

Posts: 4888; Member since: Apr 15, 2011

Yes I think that Apple is peaking. This can't go on forever. I just hope I can cash in while the wave is high not when the wave starts to calm. Man this is tricky business.

5. c.hack

Posts: 614; Member since: Dec 09, 2009

Oh, yeah, right. The same "Apple is peaking" statement has been made for the past 10 years. There is no sign of an inflection point. If anything, its momentum is accelerating.

8. jmoita2

Posts: 930; Member since: Dec 23, 2011

Momentum??? Watch out,buddy...these are famous last words,right before you lose your shirt.

11. mctcm

Posts: 204; Member since: Oct 19, 2011

jmoita, exactly. Can anyone say Netflix?

22. ardent1

Posts: 2000; Member since: Apr 16, 2011

Netflix doesn't make high demand consumer electronics products, it's basically a middleman for videos and films.

10. JeffdaBeat unregistered

I've gotta agree with you there. We hear that Apple is peaking literally every year and yet their stock continues to grow. As long as people want to own a peice of Apple, their stock will continue to rise. As long as Apple doesn't make a major mistake, they will be just fine. Funny thing, we never talk about Google peaking...

13. SuperAndroidEvo

Posts: 4888; Member since: Apr 15, 2011

It's an observation. They are at an all time high. I say this because Apple is not innovating as they once did. The Apple iPhone 4S is not the next best thing since sliced bread. Apple's Q4 report said it sold 37 million "iPhones". A HUGE chunk of those "iPhones" were the older & cheaper iPhone 4 & iPhone 3GS. There is going to be some HUGE buyer’s remorse from the people who bought those "iPhones" once the quad-core wave is set loose by Android. All I am saying is that NO ONE can keep that momentum. & I hope I can cash out before the wave clams down, because it WILL calm down.

14. E.N.

Posts: 2610; Member since: Jan 25, 2009

The 4 and iPhone 3GS was definitely a chunk, but I wouldn't say HUGE chunk. The iPhone 4S was by far their best selling phone, which means at least 33 to 50% of all devices sold. And if sales of the 3GS and 4 were so significant, they probably wouldn't have averaged $659/iphone. I don't think there will be huge buyer's remorse when quad core Android phones come out because the next iPhone will be just around the corner. And maybe you should worry about your fellow Android users and buyer's remorse, i.e. Droid Razr Maxx and Galaxy SII vs Nexus. You say Apple is not innovating, but who is? Samsung, Motorla, HTC? No. Just faster processors and bigger screens, not innovation. Apple sold about 4 million iPhone 4S devices in the first 3 days. Yeah Apple is at an all time high, but they were at an all time high last year and the year before that. The smartphone market is continuously increasing as more people move from feature phones to Android/iOS. Again, Android users are always looking to the future to make them feel better. There were no quad-core phones out four months ago and there's still none today, so as of now it doesn't matter. Maybe Apple will continue with the momentum, maybe it won't. We don't know.

18. xoutrageousx

Posts: 70; Member since: Dec 22, 2011

holy s**t, I don't think no android can come back from that.

20. ardent1

Posts: 2000; Member since: Apr 16, 2011

Ah hem -- an inflection point per differential calculus is when Apple's price curve changes sign. There has been numerous inflection points during the past ten years+.

15. 530gemini

Posts: 2198; Member since: Sep 09, 2010

@superandroid. Just tell yourself that Apple just filed bankruptcy. Now go to sleep. You need it :)

2. downphoenix

Posts: 3165; Member since: Jun 19, 2010

one thing I notice about Apple is they seem to do really well in terms of economic uncertainly. The Iphone debuted the same year the housing bubble crashed. Coincidence? They benefit from the loss of the economy.

3. messiah

Posts: 438; Member since: Feb 19, 2010

lets blame apple for economic crashes.

4. c.hack

Posts: 614; Member since: Dec 09, 2009

Your statement is mindless. The iPhone was released a good year before the recession started. The iPod was a hot product during boom years. The iPad was and is hot despite the recession. If anything, Apple products are resistant to economic cycles.

7. downphoenix

Posts: 3165; Member since: Jun 19, 2010

housing bubble, not recession. Housing Bubble collapsed in 2007. Look it up.

21. ardent1

Posts: 2000; Member since: Apr 16, 2011

If you have access to the internet, you should just look up the data like anyone else. Using the SP/Cse-Schiller Index, the peak was June or July 2006 (using 10-city or 20-city index, respective) and we still haven't stem the decline to date. For the 10-city index, the peak was 226.29 for 6/2006 and the latest value was 154.10 for 10/2011

6. Paden

Posts: 262; Member since: Jul 07, 2011

Correction: It shows the value Apple products have for people even in times of economic uncertainty.

9. johnny9000

Posts: 50; Member since: Sep 10, 2011

Correct. I'm not even remotely a Apple fan, but the fact that people are willing to drop down 500+ per ipad and 199 at minimum for a 2 year contract for iphones at the same time gas prices are crazy and the economy is garbage just proves how wonderful Apple markets its products and how well those products are viewed worldwide.

24. EclipseGSX

Posts: 1778; Member since: Oct 18, 2011

people are buying ipads instead of paying their mortgage lol

27. itiswhatitis

Posts: 423; Member since: Jan 23, 2012

nothing but the truth!!!!

12. mctcm

Posts: 204; Member since: Oct 19, 2011

The fact of the matter is that during times of inflation, equities are the best investment due to the nature of an expanding currency. This is why the federal reserve targets a range of inflation typically from -2% to 2%. During these times, your savings will devalue, retail & wholesale prices will increase, while equities increase. Sad days

23. 530gemini

Posts: 2198; Member since: Sep 09, 2010

@down. So does Walmart and the 99cents store. Hmmmmm, you think there's a conspiracy going on here? Lol

16. 530gemini

Posts: 2198; Member since: Sep 09, 2010

When will fandroids get it. Look fandies. iOS and android can coexist on this planet. They are both doing really well. They both have fanbases. They're both growing strong. Just leave it at that. There's no need for you fandroids to TRY SO HARD denying every article that comes out that talks about Apple's success. The pros have spoken that Apple is now the most valuable company in the world surpassing Exxon (for the 2nd time). It is not google. That would not change anything as far as your love for android, but that is the truth. Aren't you guys tired? It's really getting old. Apple is here to stay for a while. Don't buy idevices. None of you needs to. Stay happy with your android devices. Stop the hating.

17. aztaxia12295

Posts: 272; Member since: Nov 22, 2009

i will tell you google is getting to the top WAY faster than apple. apple was incepted in 1976 (give or take a couple of years) and google was incepted in 1995-1997 google will get to the top someday but you've been trolling for quite a while, so i wouldn't talk if i were u just saiyin

19. 530gemini

Posts: 2198; Member since: Sep 09, 2010

Then good for google. I hope they do tomorrow so fandroids can stop the hating and could sleep well :)

25. EclipseGSX

Posts: 1778; Member since: Oct 18, 2011

haters gonna hate, if it bothers you so much the door is right there, no one makes you read the comment section or make your own comments for that matter :)

26. 530gemini

Posts: 2198; Member since: Sep 09, 2010

@eclipse. Oh no, it does not bother me as much as my comments bother you. It actually amuses me on my free time :) I know that haters like you will always hate, but if you don't want replies from other people, then don't post comments on here. The door is wide open for you as well. Now get out :)

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