Apple’s Market Value Hits $100 Billion

In early morning trading Apple Inc.’s share rose as high as $116.06 per share, with 8861,875,000 shares outstanding this puts Apple’s market cap at $100,029,212,500.

Apple market cap reaches $100 billion as share price surpasses $116 per shareApple market cap reaches $100 billion as share price surpasses $116 per share

During afternoon trading the price dropped slightly to $115.10 causing the market cap to flex below the $100 billion mark.

Analysts Up Price Targets

Morgan Stanley raised its price target to $150 per share, representing an increase of 36-percent.

Analysts including Kathryn Huberty raised their target price for the stock to $150 from $110, the brokerage said in note to clients dated May 30

WR Hambrecht & Co. also raised its price target on shares for Apple Inc.

The research firm has recently been surveying AT&T/Cingular stores to see how demand is looking for Apple’s iPhone.It found that most stores are in the dark about when they will receive initial shipments of the iPhone.

“Results indicate that the stores do not have reliable color on the timing of when they will have the phone; most stores expect the phone on June 15th or June 22nd, and most expect to only have a few (highest number was 40 at one store) on hand initially,” analyst Matthew Kather wrote.

Looking forward to WWDC the analyst predicted an update to Apple’s professional lines.

Which could include new features like instant boot given the new technology from Intel’s Centrino platform,” he wrote. “The could be a number of other software related announcements too around the Mac platform, and possibly the iPhone/Apple TV.”