The iPhone maker, whose shares are up 25% in the past 12 months, enjoyed a lift from an RBC report that upped its price target to $525 from $500 in anticipation of the company's strong iPhone demand during the first quarter.
Apple will announce first-quarter earnings results on Tuesday, Jan. 24. Analysts are expecting earnings per share of $9.98 and revenue of $38.65 billion.
The company is also expected to announce a push into the digital textbook space Thursday at a special event in New York City.--Written by Olivia Oran in New York.
>To follow the writer on Twitter, go to http://twitter.com/Ozoran. >To submit a news tip, send an email to: email@example.com.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts