Apple's shares rose 4.47 per cent to $88.41 yesterday after Merrill Lynch analyst Steven Milunovich raised his target price on Apple based on speculation that Apple will partner with Sony.
This is Apple's highest ever share price, a claim that the company is able to make almost every other day at the moment.
During the day the stock peaked at $89.08. The previous day stock closed at $84.63.
Milunovich thinks that Apple could introduce products based on the IBM/Sony/Toshiba Cell processor, specifically "a high-performance Apple workstation using Cell for video editing".
He also speculated on potential Apple/Sony partnership including an iTunes-like iMovie Store online using the H.264 codec and streaming Sony and Pixar content, and a network-centric TV with computing for handling the next-generation of entertainment feeds.