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What Happens When Tech Stocks Make the $700 Club?

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  • Description

    FBN's Sandra Smith breaks down technology stocks that reached $700 per share.

  • Duration 1:45
  • Date

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We'll -- our back.

Okay apple is touching a new -- an all time high after selling two million pre orders the iPhone 5 and 24 hours.

Despite that good news though some experts say now may be may not be that time about an apple and senator Smith joins us.

-- -- Hey Dennis and -- -- -- -- stocks that have entered the 700 club when it comes that technology stocks.

Google is one of them and but of course this five year chart.

I'd tell us a bit about what happens when they enter that clawed back in 2007.

Google reached the 700 market it was a year leader that attracted 262 dollars a share.

Although to be sure that -- that -- right at the peak of the financial crisis it rallied back but it took.

Several years before just recently it went back into.

The 700 club just several days ago it's not 200 seven -- sixteen dollars a share.

That being said priceline.com.

You also want to look at this for an example of history it rose above the 700 bubble.

I've just inmates at 716 a share.

-- sorry we're looking at -- I'm sorry.

It is back below there now so here -- see this peak back in May its drop back below the 642.

And has not gone back about 700 now here -- apple.

-- -- -- the chart looks very similar guys here we are sitting at 699.

Dollars a share everybody what's -- gonna continue.

Bank of America Merrill Lynch analyst came -- among many others -- -- And not really did they say that it's gonna maintain that level they said it's gonna build another 150 bucks on that they're called for 850 -- to share.

Dennis -- all about the iPhone sales.

Two thirds of their profits come from that they sold over 2000824.

Hours so.

Folks are still banking on continued -- -- -- -- or 700 may be a lucky number.

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