Apple (AAPL) Hits $100 ($700 Pre-Split)

Apple (NASDAQ: AAPL) moved to $100 per share, or $700 pre-split, mid-day. The all-time high is $100.72 post-split ($705.07 pre-split), which was hit on September 21, 2012. Apple split its shares 7-for-1 in June.

Shares got a boost today after Morgan Stanley analyst Katy Hubberty said the stock has a better set-up than in 2012 given low institutional ownership, increased cash return, stronger/broader management team, increased M&A and R&D, stabilizing margins, and higher contribution from services They are recommending adding to positions into the iPhone 6 + iWatch product cycles.

The stock has been on a roll of late ahead of the iPhone 6 refresh, which is expected to be relieved at an iPhone event set for September 9. Apple is said to be releasing a 4.7-inch iPhone 6 as well as a larger 5.5-inch version. It is unclear if Apple will debut both or just one model at the event.

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