Apple shares rose nearly 2% to a new high

Apple shares rose nearly 2% to a new high in morning trading.

Needham analyst Laura Martin said investors turned to Apple due to its prodigious cash flow capable of weathering the storm, not going bankrupt, not having financial distress.

Martin said there are indications that Apple’s current products, especially its iPhone Pro models, are selling well, potentially leading to a big December quarter for the company.

Tablets, especially the high-end iPhones, all of which say they’re going to have high margins and high revenue for the fourth quarter of this year, Martin added.