Apple Stock Tops $130 For First Time Since July 2015

By Jennifer BootonMarketsMarketWatch Pulse

Shares of Apple Inc. soared past $130 for the first time in more than a year Wednesday, as investors reacted to the company's stronger-than-expected holiday-earnings report. Shares traded more than 7% higher in afternoon trade, reaching as high as $130.12 in intraday trade. The last day the stock traded above the level was July 21, 2015, when it closed at $130.75. Wednesday's gain would be the biggest percentage increase for Apple's stock since April 2014. The buying frenzy comes after Apple surpassed top- and bottom-line fiscal fourth-quarter expectations, and after a number of analysts raised their price targets on the stock. Shares of Apple traded around $129.84 an hour before the market close, and have risen 16.5% in the past three months and 34.5% in the past year. The Dow Jones Industrial Average , which includes Apple, is up 10% in three months and nearly 21% in the past year.

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