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.
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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.
Top Rated Comments
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.
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You can buy fractional shares.