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Apple Rises to Record on $1,000-a-Share Analyst Projections

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Apple Rises to Record on $1,000-a-Share Analyst Projections
Apple Inc. employees and members of the media walk through the new Apple retail location in Grand Central Terminal in New York. Photographer: Scott Eells/Bloomberg

April 3 (Bloomberg) -- Apple Inc., the world’s most valuable company, rose to a record in New York trading after two analysts projected the stock could surge to $1,000.

The stock climbed 1.6 percent to $628.29 at 9:56 a.m. after earlier touching $631.29.

Shares may advance to $1,000 by 2014, Gene Munster, an analyst at Piper Jaffray, said in a note to clients today. He raised his 12-month price target to $910 from $718. Brian White, an analyst at Topeka Capital Markets, yesterday set a price target of $1,001.

Link to Company News:{AAPL US <Equity> CN <GO>}

To contact the reporter on this story: Lisa Rapaport in New York at lrapaport1@bloomberg.net

To contact the editor responsible for this story: Lisa Rapaport at lrapaport1@bloomberg.net

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