Tallahassee Journal

Apple just made history – again!

Apple just made history – again!

Apple, one of the stocks analysts are calling a screaming buy – notched another all-time stock high and is on pace to close as the world’s first $700 billion company. Shares of the gadget maker are up $1.68, or 1.4%, to $121.40 Tuesday – putting a punctuation on what’s been a breathtaking 58% rise over the past year. Giant moves by a giant company – make earth-shattering events.Apple-Office-Building

Here’s the math. If the stock closes above $120.18 a share, it will be the first company in U.S. history to close with a value of $700 billion or more, according to share data from S&P Capital IQ and historical data from S&P Dow Jones Indices. That’s based on the company’s 5.82 billion shares outstanding. Microsoft was the first company to close with a $600 billion valuation in 2000. Apple made a run at $700 billion before, but didn’t close there.

Some analysts have sounded a warning Apple’s stock is getting too high. But overall, analysts don’t see anything that can stop the juggernaut, which seems able to keep charging customers rich premiums for its products.

Currently, analysts see Apple’s stock hitting $130.70 a share in 18-months. If analysts are right, that means this stock still has 7.7% upside. And at $130.70, the company would be worth an astounding $761.3 billion.