Apple shares hit $700 for first time

“Apple’s stock reached $700 for the first time on Tuesday, the day after it announced that orders for its iPhone 5 topped 2 million in the first 24 hours,” Barbara Ortutay reports for The Associated Press. “The stock traded as high as $701.44 in the morning, up a quarter of a percent from Monday’s close. It later fell slightly. It had come within 20 cents of $700 on Monday.”

“The rally in Apple’s stock price puts the company’s market value at $656 billion,” Ortutay reports. “The $700 mark is somewhat of an arbitrary milestone for Apple’s stock, representing little more than a nice round number and a record high trading level. The company, after all, already enjoys the distinction as the world’s most valuable public company ever…”

Ortutay reports, “Apple share have risen 87 percent since Oct. 5, when CEO Steve Jobs died.”

Read more in the full article here.

MacDailyNews Take: As with everything else, we wish Steve was here to see it. We miss you, Steve!


  1. Nice but Google is still ahead and that is so hard to understand as Apple has great winds blowing in its sails and yet Google keep up.

    Google is a very young company compared to Apple so Book Value is not even close as the number of outstanding shares for Apple are far greater than Google but still…. Hard to comprehend why the stock value is so damn high!

      1. Thanks for repeating what I said? You guys are all reactionary types aren’t you! My question is not to debate Apple Vs Google who happen to be both great American success stories, but rather to try and get a feel as why the Google stock price is as healthy as Apples.

        I do not to be schooled on Market Cap and Book value as I addressed this is my original comment.

        1. Book value is NOT the share price. If someone is repeating what you said, it’s only because you aren’t saying anything clearly, as you don’t even know the definition of “book value”.

          The nominal share price being about the same has nothing to do with corporate health.

          Year to date, Apple is up 73%, and Google up 9.7%, how is that just as “healthy”?

    1. What do you mean, Google is still ahead??? Apple outgrew GOOG over all time periods: for over last month, last six months, year-to-date, last year, last five years… For the past year, GOOG grew 30%, AAPL 70%!

      Google has been falling behind for a long, long time, and continues to fall behind. Apple surpassed Google more than four years ago.

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