Why Apple Stock Climbed to a New All-Time High Today
Shares of Apple (NASDAQ: AAPL) rose 3.5% to a record closing price of $171.18 on Tuesday, after an analyst placed a price target on the stock that represents a new high among Wall Street's estimates. Morgan Stanley analyst Katy Huberty now sees Apple's shares rising to $200, up from a previous forecast of $164. Huberty sees Apple's share price rising as traders seek out high-quality companies that are thought to be safer investments, now that volatility has returned to the financial markets.
