Apple shares hit $200 for first time ever
Posted by Dennis Sellers 
Dec 26, 2007 at 4:23pm
Apple shares on Wednesday hit US$200 for the first time in the company’s history. In afternoon trading, Apple’s stock rose $1.20 to a new all-time intraday high of $200 a share, notes MarketWatch. For the year, Apple’s stock has risen 134 percent as the company has seen strong sales of its Macintosh computers and the iPhone.
In a phone interview with the Associated Press, Caris & Co. analyst Shebly Seyrafi said he wasn’t surprised that Apple hit the $200 mark.
“Apple has a lot of momentum right now,” he added, noting the company is riding several new product cycles.
Seyrafi, who rates the stock “Buy” with a $225 price target, said sales of the iPod Touch and video-enabled Nanos are helping Apple’s margins. Apple’s component costs are benefiting from declines in NAND flash memory prices, he added.
“Looks like their business is strong even though retail sales growth in general appears to be weaker than in prior years,” Seyrafi said.
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Dennis Sellers
Dennis has been a newspaper editor/reporter (seven years) and teacher (seven years). He has over 4,000 magazine, newspaper and online articles to his credit. He has also covered the Mac and tech industries for over a decade for such online publications as MacCentral, MacMinute and now MacsimumNews.
