Apple’s shares rise above $ 400 for the first time, adding more than $ 95 billion to market capitalization
Shares of Apple Inc. AAPL,
charged 5.8% higher Friday morning to rise above the USD 400 level for the first time on Friday, in the wake of the giant’s giant earnings report. The stock has reached an intraday high of $ 412 after the stock market before making some gains. Current price gains add approximately 151 points to the DJIA of the Dow Jones Industrial Average,
price, while the Dow has risen only 49 points. The price gain also adds $ 95.22 billion to Apple’s market cap, as the company expands its lead as the most valuable U.S. company with a market cap of $ 1.76 trillion. As many as 20 analysts surveyed by FactSet have raised their price targets, with a high of $ 480 now belonging to DA Dave of DA Davidson. The average price target is now $ 397.65, which is 2.3 below its current level. The stock is now up 38.6%, so far, while the Dow has lost 7.6%.