Apple (AAPL) Could Hit $500 By Week End

Apple Inc. (Nasdaq: AAPL) is getting re-valued by the market faster than you can say "i-Like-Money."

Shares of the iPhone maker are up $10, or 2 percent, Thursday, and up 16 percent since posting blow-out earnings on Jan 24th.

At this rate, the stock could hit the magic $500 price by the end of this week.

A number of items are helping propel shares higher today. Reports suggest the iPad 3 is coming in March and a number of brokers raised their price targets sharply. See:

Needham & Company Maintains a 'Buy' on Apple (AAPL); Raising PT to $620 on Upward Sales Revisions

Canaccord Genuity Reiterates a 'Buy' on Apple (AAPL); Raising Estimates & PT as Channel Checks Indicate iPhone Share Increasing

Apple (AAPL) will announce Pad 3 at event during the first week of March -AllThingsD

The average Wall Street price target has now moved to $578.47, offering 19 percent upside, according to data collected at Ratings Insider.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Dollar Tree upgraded on earnings upside potential despite ongoing traffic woes
• Lyft to acquire Serveo's bikeshare business in Spain
• Supreme Court declines to block Texas law requiring age verification and parental consent to download apps