Apple's Stock Propelled Into Record Territory

By Tomi Kilgore Markets MarketWatch Pulse

Apple Inc.'s stock surged 1.1% into record territory in morning trade Monday, after an upbeat note from Goldman Sachs pushed the stock toward a 22-month high. The stock was changing hands at $133.55 in recent trade, which is above the Feb. 23, 2015 record close of $133.00. The all-time intraday high of $134.54 was reached on April 28, 2015. The stock's rally comes after Goldman Sachs raised its stock price target to $150 from $133, citing optimism over major features to be introduced in the new iPhones. The stock's point gain of $1.44 was adding about 10 points to the Dow Jones Industrial Average , which was up 100 points. The stock has now run up 10% since reporting fiscal first-quarter results after the Jan. 31 close. It has soared 23% over the past three months, while the Dow has gained 8.1%.

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