Apple shares reach $500 for the first time
On Monday, Apple shares breached the $500 mark for the first time ever.
After yet another record-breaking year, Apple’s stock just keeps getting better.
Apple shares breached the $500 mark for the first time in its history. The technology company’s shares reached a high of $503.83 per share on Monday, before closing at $502.60 at the end of trading day. That’s a 1.9 percent increase in total value after just one day.
The new record comes on the heels of Apple’s earnings report last month. The company announced a record $13.06 billion in profit during the last quarter – more than a 110 percent increase from the same period of the previous year. That’s the highest quarterly gain for a technology company, according to Apple. The company’s stock also rose some 40 percent in the last year alone.
Apple’s continued success has also brought along the rest of the Standard & Poor’s 500 index. Analysts estimate that the California-based company alone has added at least 4 percent to S&P 500’s overall fourth quarter earnings.
The company’s success has been phenomenal, thanks in large part to its array of widely popular mobile gadgets like the iPad tablet, iPhone mobile phone, and the iPod line of music players. And with the worldwide anticipation for its newer products this year, experts strongly believe that Apple’s stock will only continue to rise.
Apple is already the world’s biggest company based on market capitalization. With a net worth of $468.6 billion, Apple has overtaken the former world’s number one, U.S. oil giant ExxonMobil, as the world’s most valuable company in 2011.View Article Source »