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Apple's Stock Prices Hit $700 Per Share

By - Source: Washington Post | B 46 comments

Apple shares hit record high after iPhone 5 pre-orders break record.

Last week, Apple announced the newest iteration of the iPhone. Though many people were disappointed by the lack of surprises in the iPhone 5, there were more than enough excited customers lining up to put in pre-orders for the device. Case in point, Apple yesterday revealed that it sold two million pre-orders in the first 24 hours. That's twice as many as the iPhone 4S sold in its first day of pre-orders and an Apple record. However, it seems this little piece of news had a knock-on effect. Today, for the first time ever, Apple stock hit $700 per share.

APPL opened today at $699.16. Just before 10am, it dropped to $696.70. However, that was the lowest point for the day, as it spiked to $700.97 just after 10am. The share price skipped above and below $700 all morning and into the afternoon. At around 2:15pm, it hit passed the $700 mark and stayed above $700 for the rest of the day, closing at $701.91.

The Washington Post writes that Apple shares have gone up 6 percent since Apple unveiled the iPhone 5 last Wednesday. Speaking to CNBC earlier this year, Apple co-founder Steve Wozniak says he believes Apple will eventually hit $1000 per share, making the Cupertino-based iPhone-maker a trillion dollar company.

"You know, people talk about $1,000 stock price... you know, at first you want to doubt it but I actually believe that and I don't really follow stock markets," Wozniak told CNBC, later adding, "Apple is on such a winning course because it's encapsulated all of its different big products that I mentioned, they all work together so well that you are in a course that if you buy a product from another company it doesn't really do as much as one from Apple does. So Apple has a large room for growth."

According to the Washington Post, analysts say Apple will be close to the $800-per-share mark as the end of the year rolls in.

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Top Comments
  • 33 Hide
    joytech22 , September 19, 2012 12:05 AM
    I'm disappointed in humanity.
    I have to admit though.. They do a fantastic job of stealing money without ever having to change the user experience.
  • 24 Hide
    memadmax , September 19, 2012 12:20 AM
    The whole stock market is artificially inflated so this doesn't surprise me one bit. But what does surprise me is the apparent lack of research that investors are doing: Like android is beginning to overtake iWare. That people are beginning to throw away their iPhones in droves. And that apparently, nobody really knows how many ACTIVE iWare is out there. We know how many phones have been purchased, but the number of phones that are still being used is more important to gauge how well the brand is doing, and that requires AT&T, Verizon, and Sprint to start yapping, which they don't, but there are signs that it's not that great...
  • 16 Hide
    Anonymous , September 19, 2012 12:31 AM
    The Apple's look and feel patent monopoly round corners square design is an insult to human intelligence. You are insulting yourselves and people around you when you use your IPhone in public.
Other Comments
  • 33 Hide
    joytech22 , September 19, 2012 12:05 AM
    I'm disappointed in humanity.
    I have to admit though.. They do a fantastic job of stealing money without ever having to change the user experience.
  • 24 Hide
    memadmax , September 19, 2012 12:20 AM
    The whole stock market is artificially inflated so this doesn't surprise me one bit. But what does surprise me is the apparent lack of research that investors are doing: Like android is beginning to overtake iWare. That people are beginning to throw away their iPhones in droves. And that apparently, nobody really knows how many ACTIVE iWare is out there. We know how many phones have been purchased, but the number of phones that are still being used is more important to gauge how well the brand is doing, and that requires AT&T, Verizon, and Sprint to start yapping, which they don't, but there are signs that it's not that great...
  • 11 Hide
    edogawa , September 19, 2012 12:22 AM
    How can a company that makes overrated products be worth more than companies that are actually important to everyone; it's just silly.

    You know, if every apple product just disappeared the world would go on without an issue. This is just disappointing news; people have to realize Apple isn't great eventually, right?
  • 16 Hide
    Anonymous , September 19, 2012 12:31 AM
    The Apple's look and feel patent monopoly round corners square design is an insult to human intelligence. You are insulting yourselves and people around you when you use your IPhone in public.
  • -1 Hide
    bak0n , September 19, 2012 12:42 AM
    Hey, At least the 99% will have new toys to protest Apples profits with.
  • 13 Hide
    dalethepcman , September 19, 2012 12:51 AM
    I honestly hate to see any company over inflated like this. Eventually the marketing hype will come undone and the stock bubble will burst. When it does its going to shake the whole industry, the stock market, and everyone's 401k, and its sad to see it happen again and again and again.

    Let the fleecing of peoples pockets continue... memadmax had it right, and the huge number of preorders for the iphone 5 are directly related to the iphone 4s not being available to all carriers at its launch. This spike in preorders does not directly equate to customer sales, this is distributor preorders, not customer preorders.
  • -8 Hide
    eddieroolz , September 19, 2012 12:59 AM
    No doubt, the record-breaking iPhone5 orders helped tremendously. I frankly don't see a downturn anytime soon...and perhaps $900 a share predicted by many "analysts" is really within reach.
  • 2 Hide
    eddieroolz , September 19, 2012 12:59 AM
    edogawaHow can a company that makes overrated products be worth more than companies that are actually important to everyone; it's just silly.You know, if every apple product just disappeared the world would go on without an issue. This is just disappointing news; people have to realize Apple isn't great eventually, right?


    Now now, I highly doubt that.
  • 3 Hide
    InvalidError , September 19, 2012 1:13 AM
    I'm crossing fingers that the N7 opening the march toward sub-$200 tablets will also cause a reality-check on the smartphone market.

    Pretty hard to justify spending over $300 on a phone that barely matches the $200 N7's features.
  • 0 Hide
    Anonymous , September 19, 2012 1:19 AM
    Hyperinflation? That surely isn't 1972 dollars we're talking about.
  • -3 Hide
    dark_wizzie , September 19, 2012 1:28 AM
    "Though many people were disappointed by the lack of surprises in the iPhone 5, there were more than enough excited customers lining up to put in pre-orders for the device." Now, what is wrong with this?
  • -3 Hide
    tomfreak , September 19, 2012 1:46 AM
    ask urself the same question why arent the biggest best investor are buying the stock?. Then u get the answer.
  • 3 Hide
    iamtheking123 , September 19, 2012 2:10 AM
    It's going to be spectacular to watch them fall. Their innovation died with Jobs.
  • 4 Hide
    greghome , September 19, 2012 2:12 AM
    Anyone with Apple shares now should really sell them ASAP.
    The way things are going, the stock price is still gonna rise, but when it falls, it's gonna fall very very hard.
  • -4 Hide
    gfair , September 19, 2012 3:42 AM
    Hilarious Apple hate going on. Idiocy all over the place. Apple shares are going to fall hard... yeah, not with a revenue stream as diversified as theirs, pal.

    Anyone with Apple shares should sell them ASAP... oh, of course, who wants to bet on a sure thing and dividends and profits?

    Apple's innovation died with Jobs... considering most of the innovation came from everyone bust Steve, this is pretty stupid.

    If you idiots haven't figured it out by now, hear it again: Apple is a diverse, multinational corporation with huge customer loyalty, top rankings in quality and customer satisfaction. If you morons can't figure out that people, millions of them, like Apple products, then you are hopelessly out of touch with reality.
  • 1 Hide
    gfair , September 19, 2012 3:45 AM
    dark_wizzie"Though many people were disappointed by the lack of surprises in the iPhone 5, there were more than enough excited customers lining up to put in pre-orders for the device." Now, what is wrong with this?



    What's wrong Dark Twizzle is that you don't know why the market acts the way it does. You see a phone that delivers no innovation. The market sees the latest, most advanced, most mature edition of a product line that has to date been the single most successful smartphone line since the genre first came about. It doesn't need to be cutting edge and buzzword-compliant, it needs to build on the quality and polish of its predecessors, which it does in every way. The market wants high quality, reliability, trust, and the richest ecosphere around. This is why people are buying the phone in droves. It doesn't have the latest technology; what it does have is the most trustworthy reputation for delivering a satisfying experience of any phone on the market.
  • 5 Hide
    bluekoala , September 19, 2012 4:42 AM
    gfairWhat's wrong Dark Twizzle is that you don't know why the market acts the way it does. You see a phone that delivers no innovation. The market sees the latest, most advanced, most mature edition of a product line that has to date been the single most successful smartphone line since the genre first came about. It doesn't need to be cutting edge and buzzword-compliant, it needs to build on the quality and polish of its predecessors, which it does in every way. The market wants high quality, reliability, trust, and the richest ecosphere around. This is why people are buying the phone in droves. It doesn't have the latest technology; what it does have is the most trustworthy reputation for delivering a satisfying experience of any phone on the market.


    You're calling everyone else an idiot but where was Apple before the iPod?
    What's an iPhone and an iPad?
    They're iPods.
    One day the iPod will be old news and your oh so diversified Apple will be out of cool things to sell because all they sell is iPods, songs and awkward computers. Their model of operation can only work well if they're number 1 on the market, and as history once showed us, once the novelty wears out it'll be many decades before a new iPod like gadget makes an appearance. 900$/share is not unlikely, but your statement that of "oh, of course, who wants to bet on a sure thing and dividends and profits?" is the epitome of naïve.
  • 1 Hide
    freggo , September 19, 2012 5:48 AM
    Simply a legal version of high stakes gambling.
    Like the real estate market a few years ago with some homes gaining 10% and more in 'value' in a month.
    2 of my neighbors paid over $700,000 for their homes and could not sell them for half that now.
    Same will happen with Apple Stock.
    Remember that all that rise in the stock does not put money and profit in your pocket until you SELL that stock !
    Once market saturation sets in on smart Phones and tablets Apple's stock will first level out and then have a first light decline. That's when the investors who bought low will begin to cash in their shares and the stock will than go on a wild ride and the lat comers will complain about their inconceivable losses. Nothing new here folks; just move on.



  • 8 Hide
    freggo , September 19, 2012 5:55 AM
    gfair Apple is a diverse, multinational corporation


    Apple is what ?
    Apple is 'big' in one market; consumer electronics; and with ONE phone model and One tablet; that's where most of their money comes from.

    You want to see truly diversified companies?

    Take Daimler Benz, Samsung, Mitsubishi, VW.

    They all have products in a large number of different markets. If one market is weak than they pick up the slack in another.

    Apple does not even have it's own manufacturing and are completely dependent on foreign suppliers.
    Business school 101 teaches that this is a risky long term strategy!
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