Apple (NASDAQ:AAPL) reported huge numbers yesterday during their second quarter earnings report to investors. The highlights of that call were that nearly 9 million iPhones were sold and profits rise 90%. The main force behind those massive numbers was the growth in Apple’s international sales.
Wall Street liked what they saw yesterday and were apparently just chomping at the bit for the markets to open this morning so they can buy up Apple stock in mass.
Apple’s stock price is up about 6% and is right now trading at $258.26 at the time of this writing.
With Apple having a stock price of $258.26, this means that Apple is now at a new all time high in the stock market.
What will investors be looking for next?
Investors will now be focused on traction with the iPad as well as the forthcoming new iPhone. Upcoming catalysts include monthly NPD data (Mac / iPod business), the domestic 3G iPad launch date (April 30); international release of the iPad (May 10); and the launch of the next generation iPhone (this summer) as well as the CDMA / Verizon version (rumored to be ready in time for the holidays).
Plus, Steve Jobs was quoted s saying in the Apple earnings call yesterday that we’d see “more extraordinary products” this year from Apple.
With extraordinary products comes great sales figures. And with that, the stock market will follow close behind.
I believe that Apple’s stock price could very easily climb into the $400 – $500 range within the next year or so.