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TheStreet Open House

8 Stocks Hitting New 52-Week Highs


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iPhone, iPod and Ipod maker Apple (AAPL) is trading up 1.5% to $469.29 in recent trading after hitting a 52-week high of $469.66 earlier today.

Today's Range: $464.58-$469.66

52-Week Range: $310.50-$464.98

Volume: 6.1 million

Three-Month Average Volume: 12.4 million

Apple has a market cap of $434.96 billion and an enterprise value of $402.44 billion. The stock trades at a trailing price-to-earnings of 13.28 and a forward price-to-earnings of 9.95. Its estimated growth rate for this year is 52.2%, and for next year it's pegged at 11.3%. The current short interest as a percentage of the float for Apple is a very low 1.2%.

From a technical perspective, AAPL recently triggered a major breakout trade once it took out its after-hours trading high from its earnings day of $460. Since taken out that high, the stock has run up 9 points pretty quickly. Shares of AAPL are now starting to enter overbought territory since its relative strength index (RSI) reading is now 78.6.

Despite that overbought condition, it looks like AAPL wants to make a run at the psychologically important $500-level. Traders should continue to look for short-term long biased trades in AAPL as long as the stock remains above $460 in the near-term.

Apple shows up on recent lists of 10 Stocks of Top-Performing Funds in 2012 and 6 Energy, Tech Stocks to Beat the Market.

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