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iPad Enthusiasm Pushes Apple Stock Near $300

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Apple iPad

Jacob Arentoft exults over the iPad at an Apple store on Fifth Avenue in New York City on April 3, 2010.

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CUPERTINO (AP) – Apple’s stock flirted with $300 Tuesday as investors high on the iPad’s promise pushed shares to a record peak. Analysts see few reasons to believe shares will stop there.

As was the case with the iPhone, Apple’s iPad is setting the standards for this generation of tablet computers as competitors scramble to match the design and functions. So far, no credible challengers have emerged.

A few other factors were bolstering investors’ enthusiasm for Apple. It is planning a big push in China. There’s a new slate of iPods. And investors may be choosing to believe speculation that Verizon Wireless will get its own iPhone in 2011.

A $300-per-share price tag may look expensive, but analysts said it’s a reasonable number for a company that’s growing as quickly as Apple.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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