Apple Inc shares reached their all-time high on Thursday as excitement builds over the expected release of its tablet computer.
Although Apple has never acknowledged that a device exists, anticipation is peaking as the company enters the new year.
Option traders exchanged about 275,000 contracts in Apple, above its average daily turnover, as calls outpaced puts by nearly two to one, option analytics firm Trade Alert said
“Investors are excited about an anticipated release of an Apple tablet,” said William Lefkowitz, options strategist at brokerage firm vFinance Investments in New York.
“People are expecting this to be a product that would allow Apple to continue its tremendous growth. In addition, Apple stock hit a new high today and looks very strong on a technical basis,” he said.
On Wednesday, the Financial Times reported on its blog that the company had rented a stage at a venue in San Francisco and will make a “major product announcement” on Jan. 26.
The report, which cited people familiar with the plans, did not say whether Apple would introduce the tablet at the event.
The tablet could be a touch-screen device that resembles a larger iPhone or iPod touch, and could cost anywhere from US$500 to US$1,000, analysts have said.
There is a 50 percent chance Apple will announce the tablet next month, with a shipping date by the end of March, Piper Jaffray analyst Gene Munster said on Wednesday.
The tablet could be released in late March or April, Oppenheimer & Co analyst Yair Reiner said earlier this month.
Although most analysts have not included the tablet in their financial estimates, many expect it to be significant for Apple, complementing its portfolio of iPhones, Mac computers and iPods.
Reiner said the device could add US$0.25 to US$0.38 to Apple’s earnings per share.
The median price target on Apple is US$242.50, roughly 16 percent higher than its closing share price on Thursday.
Shares of Cupertino, California-based Apple rose as high as US$209.35, passing their previous all-time high of US$208.71, before closing up 3.4 percent at US$209.04 on the NASDAQ.
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