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Apple's Stock Hits New 52-Week High as Roller Coaster 2013 Nears Its End
Apple's march back to yearly highs began in late June and has been a fairly steady climb since that time, although the last two weeks have been particularly good for the company's stock with a roughly 10% increase over that time as investors have been buoyed by new product releases and optimism surrounding Apple's Black Friday weekend sales.
The company's stock price has undoubtedly also been boosted by a stock buyback program that has seen Apple take roughly 5% of its shares off of the market since late 2012. Some argue that Apple should be doing even more to repurchase its stock, believing it to remain undervalued and thus a cheap investment for the company. Just yesterday, activist investor Carl Icahn, who holds roughly $2.5 billion in Apple stock, announced that he has filed paperwork requesting that shareholders be included in an advisory vote encouraging the company to increase its buyback plan by an additional $50 billion.