After setting a record high close yesterday, Apple's stock today has extended its strong run that has been in place since last month's disappointing earnings numbers, pushing through to set a new all-time intraday high. The stock hit a new high of $644.13 per share just minutes ago, besting the previous all-time high of $644.00 set on April 10.
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The move has also pushed Apple's market capitalization above $600 billion for the first time since April 10, also marking a 23% increase in stock price since the bottom of this dip came at $522.18 during trading on May 18.
Apple's new all-time high comes a day after the company issued its first quarterly stock dividend since 1995, giving shareholders $2.65 per share as one piece of the company's strategy for handling its massive stockpile of cash. Investors had been calling for a dividend for quite some time as Apple's cash hoard approached and then exceeded $100 billion, with the company relenting in a March announcement in which the company outlined its belief that it will have enough cash on hand to meet its needs for the foreseeable future. The company also instituted a $10 billion stock buyback program intended to offset dilution coming from stock grants and employee stock purchases.
Top Rated Comments
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About 20 years ago.
No regrets though as I sold my shares to pay for my honeymoon and I still have the same value of shares left as I did when I bought them just under a year ago. Thanks Apple! :apple:
Generally you should buy stock just before the price plummets. That way you can most efficiently rid yourself of any money you have and walk the world as a shoeless nomad free from monetary burden.
Come back and thank me when you've reached enlightenment, I'll buy you a pair of sandals to celebrate :)
Sme analyst just upped the price target to $900; claims the iPad Mini is in production at Foxconn. And of course the iPhone and Apple TV rumors. Typical run up before a product launch. Stock wil drop again when new iPhone is released and it disappoints for not being enough of a game changer an Apple TV rumors don't materialize or what does isn't considered revolutionary.