Shares of Apple rose to their highest level in history on Friday, as the market participants are expecting a new iPhone and possibly a mini iPad to be released soon. Apple Inc., the world’s most valuable company, rose to $645.48 per share in intraday trading, before paring some of its gains and declining to $645.02 in the afternoon. The company is trading $8.68 higher, or 1.4%, from Thursday’s close. The previous high, which the stock posted on April 10th, was at $644. Apple has a market capitalization of about $605 billion, almost 50% higher than the second company in that list, Exxon Mobil Corp., which has a market capitalization of $408 billion. Apple shares dropped last month after the tech giant released earnings for the quarter that disappointed investors. Jefferies & Co. analyst Peter Misek raised Apple’s price target to $900 from $800, saying an “iPad Mini” is already in production in China.
