Apple shares break $410 for first time in company history

Tue, Sep 20, 2011

Finance, News

Shares of Apple yesterday climbed $11.13, closing out the day at $411.63 which marks the highest closing price for Apple shares in company history. In intraday day trading, the stock reached an all time high of $413.23.

There were no conspicuous factors behind the sudden climb, but we have to imagine that the impending announcement and release of the iPhone 4S and iPhone 5 played a role. In addition to two new phone models, Apple will likely release the iPhone on Sprint while also making significant inroads into China amidst rumors it has struck deals with China Telecom and China Mobile to release the iPhone on two of the largest carriers in the world.

It’s also noteworthy that Apple’s unprecedented stock price has happened under the watchful eye of Tim Cook, undoubtedly signifying that investors are confident in Apple’s abilities to innovate and rake in money even in the wake of Steve Jobs’ resignation.

With Apple’s market cap now at $381.62 billion, some have pointed out that Apple might soon be worth more than Google and Microsoft combined.



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