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The Boston Globe

Business

MARKET MOVERS

Analysts predicting Apple will hit $700

Robert Galbraith/Reuters

The new iPad, to go on sale Friday, has a sharper screen and faster chip. Apple dominates the market for tablet computers. Its stock has given investors a 555 percent return in the past five years.

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At least four analysts, including Katy Huberty at Morgan Stanley, have raised price targets for Apple Inc. to $700 or higher in the past two weeks. That would be nearly 20 percent more than Wednesday’s closing price. The stock was up 40 percent this year before Wednesday. More analysts are apt to boost targets as they gauge market share for the new iPad, said Canaccord Genuity, which raised its target to $710.

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