Analysts IDEAglobal predict Apple stock will reach its previous high later this year.

Apple’s pre-stock-split high was around $150, the post-split equivalent is $75.

The report was first announced by MacCentral, who quotes IDEAglobal: "We forecast Apple rising to $55 in the next one or two weeks from $50 at Friday’s close." The group calls the company "financially sound" and predicts up to 20 per cent revenue growth for the year.

IDEAglobal provides online research on equity, fixed income and foreign exchange markets in over 80 different countries. Last week, Apple’s CFO Fred Anderson predicted that the company would report 35 per cent revenue growth in its results for the financial year 2000. This would be a rise of income before costs of $2 billion.