Apple May Climb Above $700 as IPad Sales Begin, Analysts Say
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Apple Inc., getting a boost from anticipation of the new iPad, rose to a record today and may climb 19 percent to $700, according to analysts who raised their price targets for the stock.
At least four analysts, including Katy Huberty at Morgan Stanley in New York, have increased price targets to $700 or higher in the past two weeks. Apple, based in Cupertino, California, rose 3.8 percent to $589.58 at the close in New York and has gained 46 percent this year.