Apple Rises to Record on $1,000-a-Share Analyst Projections

Apple Inc. (AAPL), the world’s most valuable company, rose to a record in New York trading after two analysts projected the stock could surge to $1,000.

The stock climbed 1.6 percent to $628.29 at 9:56 a.m. after earlier touching $631.29.

Shares may advance to $1,000 by 2014, Gene Munster, an analyst at Piper Jaffray, said in a note to clients today. He raised his 12-month price target to $910 from $718. Brian White, an analyst at Topeka Capital Markets, yesterday set a price target of $1,001.

To contact the reporter on this story: Lisa Rapaport in New York at lrapaport1@bloomberg.net

To contact the editor responsible for this story: Lisa Rapaport at lrapaport1@bloomberg.net