| SAN FRANCISCO
SAN FRANCISCO Feb 13 Shares of Apple
rose to a record high close on Monday, buoyed by Wall Street's
expectations that the release of a 10th-anniversary iPhone and
pent-up customer demand will shore up lackluster sales.
The largest component of the S&P 500 and a core holding on
Wall Street, Apple's stock climbed 0.9 percent to end at
$133.29, breaking above its record high close of $133.00 hit on
Feb. 23, 2015 and giving it a market value of about $699.3
Its increase helped balloon the S&P 500's market
capitalization on Monday beyond $20 trillion for the first time.
Apple has climbed 50 percent from lows in the first half of
last year and is up 15.1 percent so far in 2017. It was still
short of its all-time intraday high of $134.54, set on April 28,
Monday's gain came after Goldman Sachs analyst Simona
Jankowski raised her price target for Apple to $150. She said
she is more confident that an upcoming 10th anniversary iPhone
will feature augmented-reality technology, which could help
boost demand in a saturated smartphone market.
(Reporting by Noel Randewich; Editing by James Dalgleish)