Apple has reinvented itself as a valuable investment and its 50 per cent rise in stock values is testament to the company's insanely great turnaround.

While investing in Apple was once seen as a steady though not enormously profitable stock investors are now more "willing to value" the company, Reuters reports. The company's stock is now attracting long-term and momentum investors.

Cross Research analyst Shannon Cross told Reuters: "Longer-term investors are looking at it right now and saying Apple's got these great products out there and more coming and we trust them."

While Apple's shares took a hit last week when the company announced a delay in shipping its new iMac range, traditionally conservative Wall Street investment analysts told clients to Buy, not sell, Apple shares. Needham & Co for example described the delay as posing a "buying opportunity" for the company's stock.

Apple has also seen great success in its retail store initiative and its iPod/iTunes operations – despite its 2 per cent market share.

Neuberger Berman Technology Management CEO Dan Niles said: "It's a different kind of company you're buying today than you were four years ago when you were buying this PC company that you hoped would be able to reverse their losses in PC market share." He speculates that Apple's retail plans could emerge as one of the company's biggest future profit generators.

Analysts spoken to for the purposes of the Reuters report all believe Apple stock to have a positive outlook. "We think there are still legs on the Apple story," said Cross.

Jobs said: "If investors are catching up with us, that's terrific and hopefully they'll continue to follow us".