Shares of Apple have gained about 6% since June 25, when they closed at $570.77. Since that time, the value of the Cupertino, Calif.-based technology giant has risen by $34 billion to $560 billion, making it the largest company in the S&P 500. No. 2 is oil company Exxon Mobil (XOM), with a market cap of $402.6 billion.
Since the beginning of the year, Apple shares have gained 48%, far outpacing the 14% return of the Nasdaq. They're up about 1% today.
Despite the run, analysts are projecting further gains. Of 43 analysts polled by Thomson Reuters, the mean price target is $714.05. The highest price target on Wall Street is Topeka Capital Market's Brian White, at $1,111.Apple is scheduled to report third-quarter earnings on July 24 after the close of trading. Analysts surveyed by Thomson Reuters expect Apple to earn $10.33 per share on $37.33 billion in revenue. Interested in more on Apple? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
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
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV