BUSINESS

Apple Shares Hit All-Time High

01/09/2012 12:00 EST | Updated 01/09/2012 12:00 EST
Getty

Shares of Apple Inc. reached a new all-time high Monday.

The technology giant’s stock traded at $426.97 US, up $4.57, or one per cent late in the morning, after rising as high as $427.38.

Apple reached its previous 52-week high in mid-October, only to lose almost seven per cent over the next five trading days.

The stock rose after investment bank Goldman Sachs raised its estimate of the earnings Apple will report later this month for the three months ending in December and raised its projections for iPhone sales.

Those increased sales could come at the expense of Waterloo, Ont.-based Research in Motion, but RIM’s shares also gained amid speculation of a management shakeup or takeover offer.

RIM rose eight cents to $15.86 on the Toronto Stock Exchange.