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Apple stock soars, market value close to entire retail sector

# 2012-03-14 14:20:00, TUAW - The Unofficial Apple Weblog
If you haven't noticed, Apple's stock was soaring today. It closed at US$589.58, another all-time high, and is up +21.48 for the day. As financial analysts pour over these numbers, they are discovering some amazing trivia about this off-the-charts growth. Morgan Stanley's Katy Huberty may have kicked off this climb when, as Philip Elmer-DeWitt of Apple 2.0 notes, she revised her previous 12-month price target from $515 to $720 (base case) and to a mind-boggling $960 on the bullish side. Apple's stock has gone up 40 percent since last October 14 ($422) when the iPhone 4S launched. Up 68 percent this year alone. Tyler Durden of ZeroHedge points out Apple's market value is almost equal to the market value of the entire US retail sector combined. Asymco also chimed in and noted that "Apple's market value today increased by more than one Nokia, nearly three $RIMM's or a bit less than one Sony." MacDailyNews also points out that Apple's market value ($548.95 B) is now double that ...