Apple (AAPL) Hits All-Time High Ahead Of Holiday

Only good news for Apple (AAPL). At least that is how Wall St. looks at the holiday prospects for the maker of Macs, iPods, and iPhones. Apple’s shares hit $199.33, an all-time high, up from a 52-week low of $76.77.

Industry analysts are now predicting that the consumer electronics company has sold five million iPhones. That would put it half way to hitting its target of ten million by the end of 2008. If the handset has done that well so far, it is almost certain to eclipse the company’s forecast.

While overall portable media player sales appear to have been modest for the holidays, NPD Group says that the iPod is the one exception. That means sales are not only going well, but the Apple devices would appear to be taking market share.

Mac sales also are extremely strong if activity on Amazon (AMZN) is any indication. Of the top 25 computers being sold on the huge e-commerce site, eight are Macs or Mac-related products. Only HP (HPQ) is ahead of that with nine products on the list.

Steve Jobs got his holiday wish.

Douglas A. McIntyre