Apple Trades at $200 for First Time

Shares of Apple Inc. hit the $200 mark for the first time Wednesday, as investor confidence in the company continued rising near the end of what has been a strong year for the iPod and computer maker.

Apple released a refreshed line of iPods during the year, updating its flash-based Nano model to one that can play videos, and introducing a device called the iPod Touch which is much like an iPhone without cellular calling capabilities.

"Looks like their business is strong even though retail sales growth in general appears to be weaker than in prior years," Seyrafi said.