Apple Shares at Record Highs; Jefferies Boosts Target to $900

Apple shares are back at all-time highs.

The stock is up more than 1% and earlier today hit a fresh record at $644.13.

Rumors of new iPhone and iPad products have been running rampant in recent weeks, which have helped shares catapult higher. This morning, Jefferies analyst Peter Misek added to the chatter, claiming a new iPhone announcement could come in mid-September.

He boosted his price target to $900, from $800, and predicted an iPhone 5 could be “the biggest handset launch in history.”

Apple shares are up more than 12% since late July when the company reported its latest earnings report. The tech juggernaut’s results missed analyst expectations, which sparked a selloff and raised concerns about the company’s growth rate.

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- Posted: 2012-08-17 15:35:33

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