Shares of Apple (AAPL) topped $200 for the first time on Wednesday, but ended at $198.95 (+0.1%). In Thursday's Wall Street Journal, Apple and News Corp. (NWS) are reported to be nearing an announcement of a deal to make the latter's Twentieth Century Fox movies available for download via iTunes.
Shares of Apple were last down a tenth of a percent at $198.70 in light pre-market activity. News Corp. was up 0.6% to $21.95 in thin trading. See "What the Apple-Fox iTunes Deal Means" from Fortune.com's Apple 2.0 blog, which says the best analysis on the deal is on Silicon Valley Insider (I, II). Also, Georges Yared of Yared Investment Research, says he has upped his AAPL target to $300/share.
Rival Research in Motion (RIMM) rose 0.8% to $118.94 on Wednesday, reaching as high as $120.75 intra-day. Bear Stearns analyst Andrew Neff upgraded RIMM to "outperform" from "peer-perform" and set his CY2008 target to $150 to $170/share. (See more details from the S&P's equity research insight via BW and "Blinded by Flash: RIM's Excellent Results, All Eyes on Apple."). Shares of RIMM were last off 0.7% to $118.15 in the pre-market. RIMM reported solid Q3 results last week (see earnings call transcript).