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Technology Stocks : Apple Inc.

AAPL 259.35

+0.1%

Jan 9 9:30 AM EST

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From: Moonray	5/29/2014 3:21:26 PM
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Apple $636.87 New 52-Week High: Price Targets Zoom as Street Mulls Beats, New Products Shares of Apple ( AAPL) are up $12.19, or 2%, at $636.20, and earlier hit a new 52-week high of $636.87, as the Street responds to yesterday’s announcement the company will purchase music startup Beats for $3 billion, and as the Street prepares itself for Monday morning’s keynote address by CEO Tim Cook and staff at the company’s Worldwide Developer Conference in San Francisco. Most analysts today acknowledge the Beats deal itself, while the biggest in Apple’s history, is relatively small given Apple’s enormous cash flow and already substantial cash pile. As BMO Capital Markets’s Keith Bachman wrote in a note to clients, “Apple has around $133 billion of total cash, and we forecast around $48-50 billion of free cash flow in both FY2014 and FY2015.” “Hence, the acquisition represents around 2% of its cash balance and 6% of free cash flows.” More at: blogs.barrons.com o~~~ O

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