Apple Shares Soar To All-time High
Friday, June 18, 2021 3:37 PM

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Shares of Apple (NASDAQ: AAPL) surged to an all-time high Friday, spurred by robust demand for the iPad and stronger-than-expected pre-orders for the iPhone 4.

Apple on Wednesday said that it took pre-orders for more than 600,000 of new iPhone 4. It was the largest number of pre-orders Apple has ever taken in a single day and was far higher than its own expectations. Similarly, AT&T said Wednesday that iPhone 4 pre-order sales were 10-times higher than the first day of pre-ordering for the iPhone 3G S last year.

Meqanwhile, Susquehanna Financial Group analyst Jeffrey Fidicaro reiterated his Positive rating on the stock and upped his share-price target to $335, from $325, to reflect “higher iPhone estimates driven by significantly higher pre-order demand for iPhone 4, increased expectations for the full launch weekend pulled into the June quarter and our revised upgrade cycle estimates.”

Apple stock hit all-time high of $275 on Friday. Shares of the iPhone maker were up $1.62 or 0.60% to $273.36 in late afternoon trading.

Disclosure: Author doesn’t own any of the stocks discussed here.

 

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