Apple, the one time favorite of Wall Street, just touched upon a new 52 week high on Tuesday, January 17th, breaking the $120 threshold for a short while before settling at just under $120 for the day. It was a gain of $0.93 for the day, or 0.79 percent. This in itself isn’t anything special, but it does show strength for the company. On this same day, the S&P 500 dropped by 0.30 percent, and the fact that Apple was able to outperform the economy—while financial and healthcare stocks weighed everything else down—shows that the company has the ability to still surprise us.
For traders of all sorts, Apple still holds a lot of potential for creating profits. In fact, most analysts predict growth of more than $12 per share over the coming year. While this is something that remains to be seen, it does mean that Apple is like to come under the spotlight yet again in the very near future. Continue reading