Apple Rises Above $800 Pre-split Price

Shares of Apple Inc. traded above a pre-split value of $800 in intraday trade for the first time on Monday. Adjusted for a seven-for-one stock split in June, its shares were up 0.5% to $114.75 in recent trade, which would have valued them at $803.25 on a pre-split basis. They opened just a few pennies shy of $114.29, which would have put the stock over the $800 mark at open. Adjusted for the split, they are up 34% over the last six months. Last week, Bernstein raised its target price on Apple to $120 from $110, while UBS lifted its target to $125 from $115, citing strong iPhone demand in China.