Wall Street cheers iPhone 5, Apple closes at record high
Apple CEO Tim Cook
Never mind the naysayers who are complaining that the iPhone 5 lacks this or that feature. Wall Street couldn’t care less.
Investors bid up shares of Apple almost another 2 percent today, pushing the stock to close at a record high of $682.98. That’s a 3.3 percent climb in two trading sessions.
After yesterday’s iPhone 5 event, a number of already giddy analysts rushed to up their sales estimates and raise their target prices for the stock as it inches its ways towards the $700 mark. One analyst even predicted Apple could top $1,600 a share in three years.
To be fair,…
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