Apple Stock hits $700 for the First Time

Sep 18 2012, 9:23am CDT | by , in News | Apple

Apple Stock hits $700 for the First Time

Apple's Stock traded for the first time over $700 today on NASDAQ.

As reported yesterday, Apple set a new iPhone sales record. The company sold 2 million iPhone 5 in the first 24 hours of the pre-order. This is double the sales Apple reached with the iPhone 4S last year in the first 24 hours. The Apple stock jumped over $7 and scratched the $700 mark in early trading yesterday. It did not go over $700 in regular trading hours, but hit $700 in after hours. Today AAPL jumped briefly over $701. At the time of writing the stock trades under $700 again.

Several analysts see the AAPL stock reach $1,000 at the end of the year or early next year.

The iPhone 5 will go on sale on Friday at 8am in stores. The iPhone 5 is set to break all iPhone sales records in the coming months. According to an early Geekbench performance report the new iPhone 5 A6 CPU is making it the fastest smartphone on the market.

Disclaimer: I own Apple Stock.

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