Apple Breaks Above $275 (AAPL)

Shares of Apple AAPL have broken above the $275 level during Thursday's trading session. AAPL has made a dramatic move higher from around the $240 level in just a matter of a couple of weeks. It has been nearly a straight shot up. The stock has broken out of its summer range and may be preparing for a run to $300 in short order. The median Wall Street price target for AAPL is $345 with a high target of $400. The shares appear to still be trading at a reasonable valuation. AAPL currently trades at a trailing P/E of 20.77, a forward P/E of just 15.72, and a PEG ratio of 0.96.