With just a few hours into the launch of the new iPad, Apple’s stock price has soared up to a record high. That is kind of obvious given the fact that the market is expecting very strong sales on the first day of the new iPad and then for subsequent weeks, if not months. Apple has, over time, turned out to be one stable success story which shows no signs of letting go of that success any time soon.
Apple’s shares reached a record high of $600 today just ahead of the launch of the new iPad which is scheduled to be on 8 a.m. Friday morning. The share price rose by 1.8 percent to reach $600 and then slightly slumped to $585 when the market closed. At $585, Apple stands a whooping stock price of $550 billion!!
The most significant thing about the current value of Apple’s shares is that Apple’s shares hit $500 just two months ago and now is lingering around $600. Apple has been reaping all these benefits due to the immense success of it’s iPhone smartphones and iPad tablets. Now analysts are predicting that Apple’s stock price will climb rapidly with the launch of the new iPad and will hit $700 soon.
Last quarter, when Apple reported its revenues, the were the record high for Apple’s entire history. And with the launch of the new iPad, we can pretty much expect that Apple’s current quarter may be even better.
Image courtesy stefanoost.