Netflix Shares: How High Will They Rise?
Netflix shares continued shooting into the stratosphere today (Friday) after soaring 43 percent on Thursday. At midday trading on the Nasdaq, shares had risen $21.76 or 14.81 percent to $168.62. On the other hand, Apple shares continued to move in the opposite direction, dropping $10.67 or 2.4 percent to $439.83 from a 52-week high of $705.07. It no longer is the most valuable company listed on the NYSE. (Exxon is.) Nevertheless, analysts, while reducing their outlook for the stock, are still optimistic that the company will be able to pull another hit out of its bag of tricks. Many still suspect that hit will be an Apple-branded television set. But during a conference call with reporters and analysts on Wednesday, Apple CEO Tim Cook would only say, I have said in the past it's an area of intense interest for us, and it remains so. There's a lot we can contribute in this space, and we'll continue to pull the string and see where it leads.