Apple tablet rumors spark three percent share increase
Shares of Apple Inc have hit an all-time high as analysts continue to speculate over the expected release of Club Cupertino's enigmatic tablet.
Indeed, Apple shares increased 3 percent to $208.83 on the Nasdaq, beating the previously set record of $208.71.
According to Reuters, the current median price target on Apple is $242.50, which is approximately 20 percent higher than its Wednesday closing share price.
As TG Daily previously reported, Piper Jaffray analyst Gene Munster recently predicted that Apple will ship its long-awaited tablet by the end of March.
"We expect the tablet hardware to be similar to an iPod touch but larger (about 10"); we expect the key differentiator of the device to be its software," opined Munster.
"While there are several options ranging from a touch screen Mac OS X to an iPhone-like OS, we expect the tablet to be driven by a new version of Apple's iPhone OS that runs a new category of larger apps alongside all the current apps from the App Store."
?He added that Apple could initially sell over a million units of the long-awaited device.
"While the tablet is not currently in our model, we believe Apple could sell about 1.4M units [at $600 each] if the tablet shipped in March, adding 2 percent to revenue."
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