Apple shares closed up 4% today, peaking at a new 52-week high of $182.75. Why? Kind words from CNBC’s Jim Cramer last night, and a Needham & Company analyst this morning, who jacked his price target to $235.
It’s been a heck of a run for Apple, whose shares have more than doubled since January, shortly after Steve Jobs announced he was going on medical leave. Since then, the momentum behind the iPhone — and speculation about Apple’s next product, a tablet computer — have driven shares skyward.
The stock is now within spitting distance of its all-time high. (Microsoft, meanwhile, trades at about 40% of its own all-time high).
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