October 28, 2004 1:29 PM PDT
Apple shares barrel past $50 on iPod juice
The stock, which has doubled since January, has risen 25 percent just this month. The latest spike followed Apple's Oct. 13 announcement that it had sold 2 million iPods in the past quarter. Shares continued to climb following Tuesday's announcement of the iPod Photo, which is arriving just in time for the all-important holiday shopping season.
Apple's share gain is in sharp contrast to the performance of rivals such as Dell, IBM and Hewlett-Packard, whose stocks have been more or less treading water for much of this year--even losing ground in HP's case.
Near the end of regular trading on Thursday, Apple shares were changing hands at $51.99, up another $1.69 after closing Wednesday at $50.30.
Analysts have continued to raise their price targets on the stock, but Apple's shares have outstripped even those bullish calls.