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August 20, 2008 4:13:51 PM CDT

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Apple Shares Smash $200 Barrier

Posted Dec 26, 07 3:40 PM CST in Technology,  Business 

(Newser) – Apple's shares hit a record high today, climbing $1.80 to $200.60 before retreating to close at $198.95. Strong sales of the Macintosh computer, iPod, and iPhone fueled the rally, reports Bloomberg, and Apple says sales this holiday season will be the highest in its 31-year history. The company's stock price has more than doubled in 12 months, meaning Apple now has a higher market value than Dell, IBM, and Intel.

Analysts estimate that the company's revenues may soar 32% to $9.37 billion this quarter. Apple introduced faster Macs, new versions of the iPod, and the super-hyped iPhone this year. "We see Apple's story becoming stronger and evolving from a company dependent on one hit product to one with multiple growth engines,'' says one Bear Stearns analyst.

Source Bloomberg

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An Apple logo is shown on a computer at the Apple Store West 14th Street in New York on Thursday, Dec. 6, 2007. The latest Apple retail outlet in New York, which opens Friday, has two floors of Apple...   (Associated Press)
DrFirs(TM) offers unparalleled prescribing experience on the Apple iPhon(TM) through award-winning Rcopia e-prescribing software. Photo rights belong to DrFirst, Inc. (Photo   (Associated Press)
Apple CEO Steve Jobs holds up an Apple iPhone at the MacWorld Conference in San Francisco, in this Jan. 9, 2007 file photo.. (AP Photo/Paul Sakuma, File)   (Associated Press)
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