Shares of Apple (Nasdaq: AAPL) set another record high Tuesday after three more analysts boosted their targets, although none as high as the $1,001 set Monday by Brian White of Topeka Capital Markets.
In the close, Apple was at $629.32, up $10.69, after setting another record high of $632.21 earlier. The market capitalization of the Cupertino, Calif., developer of consumer electronics neared $587 billion, keeping it the world's most valuable company.
Earlier, analyst Gene Munster of Piper Jaffray (NYSE: PJE) boosted his target price to $910 from $718, telling clients the stock could also exceed $1,000 by 2014.
Munster, noting that would value Apple at $1 trillion, said his belief reflects solid earnings growth and cash flows, noting that even at its current zenith, the share's price-to-earnings ratio is 17, respectable for a growth stock.
At JPMorganChase (NYSE: JPM), analyst Mark Moskowitz lifted his target price to $715 from $625, as he cited big sales of new iPhone 4S and iPad units as key drivers.
At Auriga, a new analyst, Kevin Dede, erected a $700 price target for Apple, in part due to the company's scope, simplicity and software, which attract developers to design applications that attract more customers.
In late March, other analysts boosted their targets as well. Itai Kidron of UBS (NYSE: UBS) posted a $900 value while Katy Huberty of Morgan Stanley (NYSE: MS) suggested the shares could reach $960.
Even at Apple's current price above $600, it's not alone.
Google (Nasdaq: GOOG) shares traded at $641.91 Tuesday, Seaboard Corp. (NYSE: SEB) traded at $1,919.01 and shares of Warren E. Buffett's investment vehicle, Berkshire Hathaway (NYSE: BRK/A) traded at $122,200.