Apple shares back above $600 mark

Apple Inc - All Kinds of Apples

Apple shares are back above $600 and its shareholders couldn't be happier.

Apple Inc. (AAPL) shares crossed $600 today and closed at $610 up almost 2%.  Apple has been a strong uptrend since bottoming since May 17th at around $530. 

 

Since mid May Apple Inc has bounced back 15% which takes its 2012 performance to a 50% gain.  Thanks to the recent run Apple shares back within 5.6% from its 52-week high.  Apple shares still look attractive with a P/E Ratio of 14.6 and EPS of 41.  Mastery concurs with many of the recent target price increases which clock a 6% to 31% increase in the next 12 months.

Latest analyst action via finviz.com for Apple:

12-Jun-12 Reiterated Canaccord Genuity Buy $775 → $800
30-May-12 Reiterated ISI Group Buy $525 → $650
23-May-12 Reiterated Oppenheimer Outperform $700 → $680
26-Apr-12 Reiterated Hilliard Lyons Buy $660 → $740

What that means shares could do in the next 12 months:

Ticker Current Price Target Price % Increase
AAPL  $       609.94  $      800.00 31.2%
AAPL  $       609.94  $      650.00 6.6%
AAPL  $       609.94  $      680.00 11.5%
AAPL  $       609.94  $      740.00 21.3%

 

MASTERY Bottom Line (Street Fighter Style)

MASTERY Bottom line:

As Apple moves higher it helps to take the major tech stocks along with it.  Let's hope the bullish trend continues. 

Even at $600 a share Apple looks ripe for the picking.

 

 

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