Related Articles

- Apple buys mobile ad network Quattro Wireless

- Apple Developer Conference dates set for late June?

- Apple gets high marks in best of decade surveys

- Apple posts teaser for Black Friday sales

- Smoking around your make makes it a bio-hazard?

- Apple to offer big discounts for Black Friday?

- Apple plans to open 40-50 retail stores next year

- iTunes App Store now over 100,000 apps

- No new Apple gear before Christmas

- Report: Apple to extend health benefits to part-time employees

Apple shares closed 4% higher on news of the company's music download service, rising to $13.86.

Early this morning, shares opened even higher following overnight trading, with the stock almost touching $14. However, some profit taking took place later in the morning, with the price sitting at $13.76 around 10.00am.

AAPL's rise was part of a wider Nasdaq trend Monday, which saw the index rise 0.7%, while the Dow Jones almost 0.5%. AAPL experienced a 1% rise, and HP and Intel also gained, rising 2.2 and 2.5% respectively.

Analysts have set a target of mid-$17 for the stock.

Analysis: If Jobs' objectives with the Music Store launch were merely to boost the stock price and score hundreds of pages of commentary - he's succeeded all too well.