Apple Stock Continues to Soar Reaching Another All-Time High

Apple stock is on fire hitting another all time high on Wednesday
Apple stock is on fire. Another day, and the company records another record high. After a long two year wait, the technology company’s stock reached a record all-time high on Tuesday closing at $100.53 per share, ahead of the $100.30 split-adjusted price per share from September 11, 2012. The records continued on Wednesday with the stock closing at another record high of $100.57 per share. The stock had gone as high as $101.09 during Wednesday afternoon trading.

The latest rally in the stock has seen it rise by 25% since the beginning of the year, over three times as much as the S&P 500, which is up 7.2% for the year. It also makes Apple the world’s most valuable company, with a market capitalization $602 billion, which is 30% higher than the number two company Exxon Mobile.

Investors soured on the stock with questions of whether or not the company could produce the innovative tech gadgets that capture consumer’s attention without Steve Jobs at the help of the company. They have come to the conclusion that the company can, especially with an anticipated iPhone 6 (retailers started discounting the iPhone 5s a few weeks ago) and an Apple device to be worn on the wrist set to hit the market later this year. Analysts are predicting the iPhone 6 will bring about record sales with the iWatch device providing an entirely new gadget from which the company will be able to produce revenue.

The question is will the stock be able to continue its momentum after the release of the next generation of iPhone. Apple has a history of its stock rising in the weeks ahead of a major new product launch, then dip in the months following it. The iPhone 6 is expected to launch in early September. The company has also had a hard time maintaining a price above the $100 a share barrier, which investors seem to have trouble overcoming.

The rise in stock prices is seen as an affirmation toward Apple’s Chief Executive Tim Cook, and his vision for the company going forward, including his insistence that the company will enter a new product category in 2014, which is assumed to be the smartwatch market. The anticipation of new products has caused a lot of excitement, especially when insiders like iTunes chief Eddy Cue say that those devices in line to be released are the best new slate of products the company has had in 25 years.

(Photo courtesy of GDS-Productions)

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3 Responses to Apple Stock Continues to Soar Reaching Another All-Time High

  1. dave says:

    This isn’t going to last, especially if iphone sales don’t live up to their huge expectations.

  2. Robert says:

    I own the stock so I’m happy that it’s doing well again, but I’ve seen some analysts say it’s going $120 which I feel is a bit optimistic. There is a lot of expectations built into the current price and that is always a worry.

  3. I shared my Apple story yesterday with a few folks. Right out of college I had some money and decided to buy my first stock. My family had some early relationship with Apple so I bought for around $20. Then the iPod came out and the stock doubled quickly and I sold out around $50 and thought I had made it big. It couldn’t get bigger than the iPod. Oh well, what could have been, at least I made money, but I no longer own individual stocks.

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