You wouldn't know Apple
To put that in another context, the total value traded in Apple today was more than 21 times more than the value of Microsoft
But enough about Apple's trading volume; what's truly important is the fact that the company rose 3.78% on a day when the Nasdaq was up a mere 0.03%. So why did Apple soar? One obvious catalyst was a series of analyst upgrades. A particularly bullish call came from Morgan Stanley, which added the company to its "Best Ideas" list, assigning Apple a price target of $720 while giving a "Bull Case" one-year target of $960 per share!
Could Apple really hit nearly $1,000 per share? I think there's definitely a case to be made. Perhaps not within the year, but Morgan's points about continuing growth in emerging markets and the iPad's continuing penetration into business markets are two of the exact same points I made in an article assuring investors that Apple was still a buy in front of the iPad going on sale.
One final reason for Apple's rise could be linked to more chatter about Apple's TV. Jefferies analyst Peter Misek sent a note to clients on Monday detailing his trip to their Asian supply chain. In the note he highlighted chatter that Apple is making strides toward establishing a supply chain for a future iTV. That Apple is beginning to establish this for Apple TV is no surprise; they clearly understand the opportunity in home entertainment. Instead, the challenge now lies in striking content deals, as other companies like Intel
As a final point, if you're an Apple investor and looking for more than one way to profit from its rise to becoming the defining technology company of the decade, we've prepared a free report, "3 Hidden Winners of the iPhone, iPad, and Android Revolution" which details three component plays inside Apple products which are poised for a bright future. To get your own copy of the report, just click here now -- it's free!
Eric Bleeker owns shares of no company listed above. The Motley Fool owns shares of Apple, Intel, Microsoft, and Google. Motley Fool newsletter services have recommended buying shares of Microsoft, Apple, Intel, and Google; creating a bull call spread position in Microsoft; and creating a bull call spread position in Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.