Wall Street Cheers iPhone 5

How Long Will This Last?
Only Time Will Tell…

Apple closes at record high

The Street’s love affair with Apple continues, as investors bid the stock up — again.

Never mind the naysayers who are complaining that theiPhone 5lacks this or that feature. Wall Street couldn’t care less.

Investors bid up shares of Apple almost another 2 percent today, pushing the stock to close at a record high of $682.98. That’s a 3.3 percent climb in two trading sessions.

After yesterday’s iPhone 5 event, a number of already giddy analysts rushed to up their sales estimates and raise their target prices for the stock as it inches its ways towards the $700 mark. One analyst even predicted Apple could top $1,600 a share in three years

Read More: Apple Closes at Record High/

by Paul Slaon | September 13, 2012 1:36 PM PDT