Apple’s shares (AAPL) touched the $120 mark multiple times just after the market opened this morning, reaching a new all-time high, AppleInsider is reporting. The stock was however unable to break the barrier, facing resistance beyond that mark. Apple’s previous all-time intraday trading high came on November 25, 2014, when shares of the Cupertino giant peaked at $119.75. The source notes that if AAPL can maintain its current level, the company could exceed its all-time-high closing price of $119 achieved on Nov. 26, 2014.
“After peaking at $119 in November, Apple saw its stock price fluctuate around the $110 range for a few months. But the stock has seen significant gains this week following the results of its first quarter of fiscal 2015, in which the company sold an astonishing 74.5 million iPhones, blowing away market expectations.
Apple’s blockbuster quarter caused analysts to raise their price targets on shares of the company, with many on Wall Street predicting that Apple will trade at $130 or higher in the next year. But with each day’s gains, that $130 price range gets closer”.
Last year, billionaire activist investor Carl Icahn had predicted Apple’s shares will reach $203 by the end of this year.