This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

iPad Boosts Apple Stock to Another Record

NEW YORK ( TheStreet) -- Apple (AAPL - Get Report) stock is continuing on its winning streak from last week, hitting yet another record high in Monday trading.

Shares of Apple ticked as high as the $220.09 mark during the day, before slipping a tad in afternoon trading. It closed at $219.08.

This comes after Apple revealed its first television commercial for its iPad during the Academy Awards last night.

The stock reached a high last week when it was announced that the iPad is slated to hit stores on April 3.

Stockpickr Answers
Is anyone shorting AAPL here?

But Apple has other opportunities beyond its newest endeavor. According to Piper Jaffray analyst Gene Munster, who cited NPD data on PC sales, Apple Mac sales will continue to advance over the next several months.

"We expect the strong year-over-year growth in NPD data that we saw in January to continue in the month of February," he wrote in a note. "We believe this represents a buying opportunity ahead of NPD data for the month of February on March 15."

Munster has an overweight rating on the stock and a price target of $284.

Elsewhere in the tech sector, Research in Motion (RIMM) is surging after it was upgraded to outperform from market perform by BMO Capital Markets.

Analyst Tim Long cited improving demand, specifically of the BlackBerry Bold 9700 and the Curve 8520, which are boosting RIM's revenue.

Research in Motion is also expected to benefit from the evolving smartphone landscape, even with increasing competition from Apple.

Shares of Research in Motion are gaining 5.6% to $73.40 in afternoon trading.

-- Reported by Jeanine Poggi in New York.

RELATED STORIES:

Follow TheStreet.com on Twitter and become a fan on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $123.25 0.00%
FB $83.30 0.00%
GOOG $548.34 0.00%
TSLA $185.00 0.00%
YHOO $45.10 0.00%

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs