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December 2, 2008 12:21:00 PM CST

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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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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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