Apple closed at a new high yesterday of $676.27, as it continues its assent to $700 a share.

This is despite Amazon, Nokia and Google’s Motorola division introducing new devices. And the on-going competition from Samsung’s Galaxy S III, which Apple is hoping to add to its list of patent infringing products.

Fortune notes that Apple hit an all-time intraday high of $680.87 on 27 August, the first day of trading after the Apple versus Samsung verdict, but closed that day on $675.68.

This week a number of analysts have reassessed their expectations for the Apple stock. Analysts at Piper Jaffray reiterated an Overweight rating on Apple shares (which means it expects the stock to outperform the sector). They have a $910.00 price target on the stock, notes Daily Political.

Credit Suisse analysts have an Outperform rating (meaning they expect the stock to do slightly better than the marker) on shares of Apple. They have a $750.00 price target on the stock.

JPMorgan boosted its Apple share price target from $675 to $770, maintaining an Overweight rating on the Apple stock. However, JPMorgan noted that there may be stormy weather ahead, warning, in a note to investors, that the 12 September iPhone launch event could provide an “event-risk” for the stock depending on reaction to the new iPhone, notes Dofonline.

What will happen to Apple’s stock after the iPhone 5 announcement?

Covestor notes that only two of the five previous iPhones caused the stock to appreciate 4-5 days later, sharing a Statista graph that shows that following the announcement of the iPhone in January 2007, Apple’s stock soared. The only other time was the iPhone 4S. In the case of the iPhone 4 and iPhone 3G the stock declined immediately following the announcements.

It is a common phenomenon for Apple’s stock to tank directly following product launches and Apple earnings announcements. For this reason, we’re heard it recommended that you should buy on the rumour, but sell on the news.

However, in the quarters following the announcement of the new iPhone, it is expected that Apple’s stock will see growth. In a Seeking Alpha report entitled “The current Apple situation might be the investment opportunity of the decade”, contributor Terry Allen suggests that we could see “higher than 25% growth thanks to the iPhone that is on its way.

What will happen if Apple splits its stock?

Another reason why Apple’s share price may rise in the coming months is if it splits its stock.

One prediction is that if Apple split its stock and joined the Dow Jones Industrial Average, many more mutual funds would buy it, causing the stock to soar.

In addition, with Apple shares available at a cheaper price, less experienced traders and faint-of-heart investors could get their hands on it, “meaning a potential and likely increase in volatility”, notes Seeking Alpha.

But, with more people able to buy, the share price could move from the $60 dollar range into the $80's or more, adds that report.

“While a split would likely make Apple stock more volatile in the short term, I for one think a split would be good. I feel as though Apple will have an easier time getting to $100 after the split, than it will getting to $1,000 without the split,” writes Allen.

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