12/27/2007

Apple Trades at $200 for First Time

Filed under: — By Aviran Mordo @ 5:06 am

Shares of Apple Inc. hit the $200 mark for the first time Wednesday, as investor confidence in the company continued rising near the end of what has been a strong year for the iPod and computer maker.

Shares rose 15 cents to close at $198.95. They earlier peaked at $200.

Apple shares have traded between $76.77 and $199.33 in the past year, rising steadily since January as investors anticipated and then cheered the release of the company’s hybrid cell phone, multimedia player and wireless Internet device, the iPhone. The product went on sale at the end of June.

Apple released a refreshed line of iPods during the year, updating its flash-based Nano model to one that can play videos, and introducing a device called the iPod Touch which is much like an iPhone without cellular calling capabilities.

The company also refreshed its notebook computers during the year.

 

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