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Last week Brian White of Topeka Capital Markets predicted that the company's shares could reach $1,001 in the near future.

Piper Jaffray also recently raised its price target to $910 from $718, and said Apple will be the first company to have a $1 trillion market cap.

Apple shares rose 70 cents, or 0.11%, to $625.50 in afternoon action.

-- Written by James Rogers in New York.

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