Dec. 26 (Bloomberg) -- Apple Inc. rose to a record in Nasdaq Stock Market trading after more than doubling this year on sales of Macintosh personal computers and demand for the iPhone.

Apple climbed for the fifth straight day, increasing 15 cents to $198.95 at 4 p.m. New York time after reaching $200.96. The Cupertino, California-based company, which also makes the iPod media player, topped $100 for the first time in May and is the fifth-best performer on the Standard & Poor's 500 Index this year.

Chief Executive Officer Steve Jobs added faster Macs and slimmer iPods, and in June unveiled the Web-surfing iPhone to expand Apple's share of the consumer-electronics market. The handset went on sale in Europe last month. Apple gets an undisclosed cut of the monthly fees charged by its four wireless partners.

``There's so much growth to look forward to for the iPhone,'' said Stephen Coleman, chief investment officer at St. Louis-based Daedalus Capital LLC, which owns about $7 million of Apple shares. He projects the stock will hit $600 in 18 months.

Apple gets about 30 percent of the iPhone fees charged by carriers, Coleman said. Wall Street analysts' estimates range between 5 percent and 20 percent, he said.

The iPhone has helped Apple evolve from ``a company dependent on one hit product to one with multiple growth engines,'' Andy Neff, an analyst with Bear Stearns & Co. in New York, wrote in a Dec. 6 note. He raised his share-price estimate to $249 from $243 and his earnings projection for the year ending in September by 2.9 percent to $5.40 a share.

Raising Price Estimates

Neff was among at least 10 analysts who raised their price estimates for Apple above $200 in October. That month, the company gave a quarterly forecast that uncharacteristically topped analysts' expectations and said holiday sales would be the highest in its 31-year history.

Amazon.com Inc. said today that the MacBook laptop was among the top-selling PCs in the Internet retailer's ``best ever'' holiday season. Goldman, Sachs & Co. analyst David Bailey expects Mac sales to reach 2.22 million units this quarter, topping the 2.16 million machines sold in the back-to-school season.

The company has a higher market value than Hewlett-Packard Co., Dell Inc., International Business Machines Corp. and Intel Corp.

Revenue this quarter may rise 32 percent to $9.37 billion, according to the average estimate of 21 analysts surveyed by Bloomberg, on record sales of Macs and iPods. Apple has forecast sales of $9.2 billion and profit of $1.42 a share, up from $7.12 billion and $1.14 in the year-earlier period.

IPod Sales

Shaw Wu of American Technology Research anticipates iPod sales of 25 million as consumers buy new models including the iPod Touch, which uses the same wide-screen display as the iPhone.

``It's looking like Apple's most optimistic guidance in eight quarters is turning out to be conservative after all,'' Wu, based in San Francisco, said in a Dec. 4 report. ``Our recent checks with supply-chain sources lead us to believe Apple is positioned to deliver upside.''

Bailey and Wu advise investors to buy the shares; Neff expects the stock to outperform the market.

To contact the reporter on this story: Connie Guglielmo in San Francisco at cguglielmo1@bloomberg.net.

Last Updated: December 26, 2007 16:08 EST