Biz Brief: Apple Stock Hits All-Time High
Several analysts believe that the new iPad could add $3 billion to revenue this calendar year. It sells for an average of $500. The latest versions of the iPhone should create a new round of upgrades and first-time buyers. Apple has decided to release the products overseas more quickly than with previous ones presumably to drive sales more rapidly.
This morning, according toBarron's, "Morgan Stanley analyst Katy Huberty repeated her Overweight rating on the stock, asserting that the installed base of iPhones should rise to over 100 million by the end of 2011, from about 30 million at the end of 2009." The forecast was on top of several other positive analyst comments about the shares.