Apple's stock price closed at an all-time high of $636.34 today, passing the prior all-time closing high of $636.23 set four months ago on April 9th. The next day, April 10th, the stock hit an intraday high of $644 and the company's market capitalization breached $600 billion before falling back. Apple's stock price is up nearly 60% on the year, outperforming the NASDAQ by more than 3:1 and the Dow Jones Industrial Average by more than 6:1.
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Growth in Apple's stock had been slightly weaker for the past month in the run-up to weaker-than-expected earnings for the third quarter, but new reports of a September launch for the next iPhone as well as a smaller, cheaper iPad Mini have been pushing the price higher.
All shareholders of record as of Monday's close also received a cash dividend of $2.65 per-share today, the first dividend payment to Apple shareholders since December 1995.
Top Rated Comments
...wait, what?
It can only stay that high for so long. There is an end to every good thing. Of course it won't rocket down - it just can't get much more expensive.
Why not? It's trading at a very reasonable sub-15 P/E. Google is trading near 20. Could easily rise to 20 or 25 or an even higher P/E, not to mention we will see a big rise in earnings this year.Correction.
Correction. Steve would have let this happen.Steve would of let this happen. :apple:
It's just like gas prices - there is no rational explanation for it's increase or when it falls down in price if at all.
Stock market is played by every rich million and billionaire on this planet - which includes many billionaire chinese investors (aka gamblers) as well.
The poor quarter is only because of the delay in the iPhone. Nothing more. Apple is still a great investment.