Even as the broader markets are down so far today, Apple's stock price is up a healthy 2.4% over Friday's close, pushing the stock price to an all-time high of over $410 per share. The jump has pushed Apple's market capitalization to $380 billion, giving the company an approximately $25 billion cushion over second-place Exxon Mobil in the rankings of most valuable companies.
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Apple's recent stock performance is evidence of the faith the markets have in Apple even as Tim Cook has officially replaced Steve Jobs as CEO. Apple's stock price initially dropped 5% in after-hours trading following Jobs' resignation but rebounded during regular trading the next day to close down only a fraction of a percentage point. Since that time nearly four weeks ago, Apple's stock is up 15% and is now higher than it had ever been under Jobs.
Update: After touching $413.23 late in the trading day, Apple's stock closed at $411.63 per share today.
Top Rated Comments
(View all)Do you have any understanding of investment strategies?
lol, its not a case of being a smart arse, its a case of pointing out what the guy said is flatout wrong, steve never left, no two ways about it, he said he did.
Yes, there are two ways about it.1) Steve Jobs left as the CEO of Apple
2) Steve Jobs left Apple completely
He only said "he left". There could be two different interpretations.
Why assume he made the wrong one?
How high do you guys think Apple's stock will get?
The skies the limit...
How high do you guys think Apple's stock will get?
One year target estimate: $570