Apple Shares Getting Power Boosted with Endless Good News
After Apple (NASDAQ:AAPL) was added to the Wedbush’s Best Ideas list, it hit a new all-time high … again. Apple looks to expand the iPad 2 consumer base by selling iPad 2 tablets with 3G cellular-network functionality in China (NYSE:FXI). Also, Tiawanese TPK, a major supplier of the iPhone and iPad, is also showing evidence of growth in Apple’s sales. TPK’s August revenue is up 101% from a year ago and hopes to see it rise even higher in the fourth quarter.
Investing Insights: Steve Jobs Prepares to Deliver a New Catalyst for Apple’s Stock.
According to Market Beat, “They [Wedbush Securities] see strong demand for iPhone 4 and eventually iPhone 5, iPad domination in the tablet wars and a lot of room to increase distribution. And they’ve drunk the iCloud Kool-Aid, thinking it will make people buy a bunch of connected devices.” Apple telecom carries Sprint (NYSE:S), Verizon (NYSE:VZ), and AT&T (NYSE:T) are also in line to catch some of the glow from Apple’s halo.
Apple’s stock is up 1.93% to $419.77 on the news. Shares are up 30.08% year to date. The stock has traded in a 52-week range between $275.00 and $419.87.