Apple Defies Gravity ( AAPL, RIMM, CLWR, S )

Apple Inc Consolidates As iPad Is Out (AAPL, RIMM, CLWR, S)

Apple Inc.(NASDAQ:AAPL) shares are showing volatile moves this morning with the stock recently trading higher by 0.34% to $587.50 after falling to session low of $578. The company’s new iPad is out for sale in the market with 100 plus customers queuing at stores across Asia and Europe. The stock has been moving higher ever since it announced new features of latest iPad and pushed the stock to another record high of $600 mark in yesterday’s session. There is strong expectations from the company’s new launch with several analysts have raised their price target on the stock beyond $700, which is showing a potential gain of at least 20% from the current market price. Analysts expect a strong start for the latest iPad and some even expect sales of the current model to overtake the iPad 2. So far, the company has sold 55 million iPads since it was launched, kicking off the tablet market, in 2010.  Tablet sales are expected to jump to 326 million by 2015 with Apple largely dominating the market, as per research firm Gartner. So far this year, the stock has already jumped over 45% and over 78% over the past one year.

Research In Motion Limited (USA)(NASDAQ:RIMM) shares extended its rally and rose another 5.13% after climbing over 2% in the previous trading session. The may be rising as the company said that it is going to release its fourth quarter and year-end of fiscal 2012 on March 29, 2012 after the close of the market. Unlike in the past, the company didn’t provide any warning. However, many on the Street expected a warning to arrive shortly.
Yesterday, analyst at MKM Partners reduced their estimates for last quarter and this year, following some “disappointing U.S. retail store checks”. The firm maintained its buy rating on the stock with a price target of $15.
Shares of RIMM have been hammered down by over 76% due to growing competition from Apple Inc.(NASDAQ:AAPL).

Clearwire Corporation(NASDAQ:CLWR) shares are surging over 3% to $2.21 after Sprint Nextel Corporation(NYSE:S) decided to end its spectrum hosting agreement with LightSquared due to unresolved interference issues.