Do you have an IPhone, IPad, IPod, or Mac? Chances are you do and so do hundreds of millions of others which has led shares of Apple to keep heading higher as sales continue to exceed expectations. Today, shares hit an all time high as they briefly passed $600 a share this morning. The continued momentum in Apple has smothered worries that the company would suffer following the death of Steve Jobs. On the contrary, shares have gained over 50% since his passing.
Today’s rally is ahead of tomorrow’s release of a new version of its IPad. More on the IPad release and the all time high in Apple’s shares from AP.
NEW YORK (AP) -- Apple Inc.'s stock touched $600 for the first time, the day before the company's latest iPad goes on sale.
The stock reached $600.01 just after the market opened and was up $3.76 at $593.34 after the half-hour of trading.
Apple is the world's most valuable company, with a market capitalization of nearly $555 billion. It topped $500 billion for the first time in late February, a market value peak where few companies have ventured.
Anticipation is high for Apple's latest creation. Some industry experts believe the Cupertino, Calif., company could sell 1 million of the new iPad on Friday, when it becomes available to the public. Apple has already stopped taking advance orders for Friday and said customers should expect a two- to three-week wait for purchases made through its online store.
There were 15.4 million iPads shipped in Apple's most recent quarter, which included the critical holiday season. That amount was more than double its iPad sales the year before. Read More