On Wednesday, shares of Apple topped the $300 mark for the first time in company history.
The rally in Apple stock has seemingly been a much needed giver-of-life to all tech stocks in recent months as equities slowly continue to recover from the greatest economic crisis in generations.
Now trading above 11,000, the Dow Jones Industrial Average was at 6,600 as recently as spring 2009.
Amidst the “flash crash” some five months ago – the afternoon when stocks plummeted 1000 points without any apparent reason – shares of Apple traded below $200. Now that we’re above $300, those who purchased the year’s low in Apple stock are enjoying some of the best and biggest returns on any investment possible in 2010.
Since August, shares of Apple have climbed better than 25%.
As reported today by Market Watch, “Apple’s stock is up more than 42% mostly due to what analysts see as the potential for growth from the iPad and the iPhone 4 handset.”
Many financial institutions continue to project a target share price for Apple at or above $400 per share.