Business

Apple Inc.

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A Topeka Capital Markets analyst, Brian White, has set the highest price target yet for Apple shares: $1,001, or 63 percent more than on Monday. The current price does not reflect Apple’s rapid growth or future prospects, he said. He bases his price target on his estimate for 2013 earnings, multiplied by 17. Apple shares carried a multiple in the mid-20s from 2006 to 2010. The stock is up 79 percent over the past 12 months.

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