Apple's Share Price Soars Past the $500 Mark

Monday August 24, 2020 6:32 am PDT by Eric Slivka

After becoming the first U.S. company to reach a market capitalization of $2 trillion last week, Apple's stock continues to soar as investors pour money into the company. Apple's stock officially opened this morning above the $500 mark, up another 3.5% to $515.

aapl 500
Apple and other tech heavyweights have seen their share prices rise significantly since market lows in March, with Apple more than doubling from its low of $224.

Apple's time as a $500+ stock will be short-lived even if it doesn't drop due to market trading, as the company's four-for-one stock split will take place at the close of trading on Friday, lowering Apple's share price to around $125. Apple's overall market value will be unchanged, however, as shareholders will receive three additional shares for each share they currently own.

Tag: AAPL

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Top Rated Comments

quatermass

80 months ago

Wow... the whole Epic battle is really hurting Apple.

Score: 28 Votes (Like | Disagree)

Baymowe335

80 months ago

In the past week Apple stock is up 12%. This morning it opened up 3% higher. In the past month the stock is up almost 40%. The only tech stock comparable is Tesla which was up over 13% the past week and 46% in the past month. I am curious what’s driving this. There hasn’t been any change in Apple’s underlying business to warrant a 40% increase in the stock in the past month. Is this sustainable or is Apple (and Tesla) heading for a crash?

Apple has nothing in common with Tesla besides the recent rise in price. Apple has been stupidly undervalued for 5+ years and its earnings power is simply getting the respect it deserved a long time ago.

Apple trades at 35X earnings, completely reasonable for a consumer products company with massive services.

Amazon trades at 90X earnings and Tesla almost has no earnings.

Score: 12 Votes (Like | Disagree)

a m u n

80 months ago

:apple: is unstoppable!

View post on X

Score: 9 Votes (Like | Disagree)

Baymowe335

80 months ago

I wish stock splits would be required of all publicly traded companies once their stock hits a certain value threshold. Stocks that sit at $1000, $1500, $2000 per share do nothing but keep new investors from sharing in the gains, and re-enforces old money / fat cat traders.

For example, it's absolutely ridiculous that Amazon is currently valued at $3,300+ per share.

The valuation is ridiculous, not the fact it trades at $3300.

You can buy fractional shares.

Score: 8 Votes (Like | Disagree)