Wall Street cheers iPhone 5, Apple closes at record high
Never mind the naysayers who are complaining that the iPhone 5 lacks this or that feature. Wall Street couldn't care less. Investors bid up shares of Apple almost another 2 percent today, pushing the stock to close at a record high of $682.98. That's a 3.3 percent climb in two trading sessions. After yesterday's iPhone 5 event, a number of already giddy analysts rushed to up their sales estimates and raise their target prices for the stock as it inches its ways towards the $700 mark. One analyst even predicted Apple could top $1,600 a share in three years.To be fair, today's Apple rally wasn't entirely pinned to the prospects of booming iPhone sales and profits. The entire market rose after the Federal Reserve unveiled a long-awaited package of steps to spur economic growth.Flash Player 9 or higher is required to view the chartClick here to download Flash Player nowView the full NASDAQ:AAPL chart at Wikinvest
