CORRECT: Apple's Stock Heads For Another Record High
Apple Inc.'s stock rallied 0.7% in premarket trade Monday, after Goldman Sachs raised its price target, to put it on track to open at a record high. The stock was trading at $133.09 ahead of the open, above the Feb. 23, 2015 record close of $133.00. The all-time intraday high was $134.54 on April 28, 2015. The 97-cent premarket gain in the stock would add about 7 points to the Dow Jones Industrial Average's price. Goldman raised Apple's stock price target to $150, which is was 14% above Friday's closing price of $132.12, from $133, citing increased confidence regarding major new features in the next iPhone. The stock has run up 41% over the past 12 months, while the Dow has rallied 27%. (This replaces an earlier item that reported the incorrect all-time closing and intraday highs.)
Copyright © 2017 MarketWatch, Inc.