Apple Computer shares hit a new all-time high in heavy Nasdaq trading yesterday. The shares rose $2.23, or 3.10pc, to $74.05 on volume of 30.3 million shares in regular trading.
The rise followed a report by UBS analyst Benjamin Reitzes who said Apple should cash in during the holiday season with its latest video iPods. He raised his estimate for Apple’s quarterly net profit and tipped a future stock price of $86.
The share price rise also comes as NBC television announced plans to offer shows on Apple’s iTunes service that can be viewed on the iPod; and as Apple edges closer to producing its first Intel-based Macs.
Apple’s previous all-time high was $72.74, on December 12. Its 52-week low was $30.80, in December last year.