Apple stock hits $700 for first time in after-market trading
Mikey CampbellSource: Google Finance
Prices for Apple stock hit an all-time high in after-market trading on Monday, topping out at $700 after flirting with the record-breaking number since the company announced huge sales of its new iPhone 5.
After announcing its new smartphone hauled in over 2 million pre-orders in its first 24 hours of availability, AAPL prices briefly jumped past the $700 barrier on Monday, a mark the stock has been pushing toward since the company's strong third quarter earnings call in July.
When the final sales numbers are tallied, Piper Jaffray analyst Gene Munster believes Apple will move some eight million iPhone 5 handsets in its first weekend of sales, doubling the results from last year's iPhone 4S launch. Munster notes that the iPhone 5 could see an unprecedented 10 million unit sales by the end of the quarter.
In the fastest-ever launch for any Apple product, the iPhone 5 is slated to go on this Friday in nine countries, with U.S. customers able to buy the device at brick-and-mortar Apple Stores, wireless carriers AT&T, Sprint, and Verizon wireless as well as certain Best Buy, RadioShack, Target and Walmart Stores. The unit is slated to see release in 22 additional countries on Sept. 28, and will be available in 100 countries by December.
As of this writing, Apple stock is hovering just below the $700 mark at $699.78 with a market capitalization of $656 billion.
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58 Comments
Nice little late day bump there...
Nine years ago, the stock was $7 a share.
Better location for AAPL after hours stock info: http://www.nasdaq.com/symbol/aapl/after-hours
Nine years ago, the stock was $7 a share.
My family has shares dating back in the 80's. We were involved in the Apple Reseller world, so we kept them through the good times and the dark times. Let's just say it's treating them very well today and have still yet to sell them.
Our financial planners still cringe when they see my portfolio, 100% Apple. I always tell him, unless you have a stock lined up that can generate me 400%+ return then I'll just stick to my own portfolio management :)
My family has shares dating back in the 80's. We were involved in the Apple Reseller world, so we kept them through the good times and the dark times. Let's just say it's treating them very well today and have still yet to sell them.
Our financial planners still cringe when they see my portfolio, 100% Apple. I always tell him, unless you have a stock lined up that can generate me 400%+ return then I'll just stick to my own portfolio management :)
Only wish I had gone by my instincts and ONLY purchased AAPL when I bought my first stocks. There is nothing in my very broad portfolio that has performed as well, or as consistently.