Apple Stock Climbs to Record High Amid iPhone 5 Hysteria

Apple Stock Climbs to Record High Amid iPhone 5 Hysteria

At this point in the game, Apple might as well have a license to print money. The Cupertino company's share price soared to a new high on Friday, reaching $648.11 at the closing bell, which gives Apple a market capitalization of $607.54 billion. In after hours trading, the stock is up to $649, an indication that a new high is on the horizon.

Apple's stock has been rising steadily since mid-May when the share price was just over $530, and the recent surge comes just before the company is set to announce the iPhone 5, which will likely be unveiled in September. There's also been a fair amount of chatter surrounding an iPad Mini device to compete with the 7-inch tablet category.

Apple Retail Store
Image Source: Flickr (nechbi)

While nothing is yet official, the iPhone 5 will almost definitely bring a larger size touchscreen to the smartphone party than any previous iPhone model, along with 4G LTE connectivity. iPhone sales have slowed in recent months, mainly due to the fact that iPhone 5 rumors have been so rampant, causing some smartphone buyers to delay upgrading until they see what Apple's next generation device has to offer.
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Six hundred and seven.. point four.. BILLION DOLLARS. What in the HECK.

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Expect to be blown away, Marco was right when hey called me a mac fan boi, but i am a fan boi because year after year Apple has been matchless in product innovation, and functionality. the Cupertino company didn't get a market capitalization of 607.54 billion by producing second rate hardware or software. Apple is the most profitable company in the world according to Forbes.

Apple has set the bar for new product releases and expect this newest release to top all expectations.

To Marco

From AKnudson

Spreading the apple love :D

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Why are you saying "fan boi" and not "fan boy?" :D It's throwing me through a loop.

I do love my iPhone, but the amount of sales Apple makes blows my mind. It seems like everyone I've ever heard online prefers a Windows phone but still somehow Apple sells millions and millions of their iPhones.

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@Jaybk Thats exactly my opinion. Almost everyone I talk to IRL and online prefers a windows product yet Apple continues to have top sales

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Still apple wont be on my desk or my pockets. Apple is not the first touch screen phone. What they have is only the ipod. They should be the one getting sued. But to me its just a competition that make companies produce more innovative pruducts and try to one up each other. Whats iphone5 going to be? The same. Little different specs but not a game changer. To me iphone wasnt that big of a deal. Sony ericson and nokia was bettwr when it came out. Now samsung is taking a big bite out of their supposedly revebue thats why theyre suing them. But if you read the post about apple was exposed to an ipad idea. Then who is copying who. Lets just drop the lawsuits and have a friendly competiotion. Unless apple launch a gamo changing product it wont last long before that shares drop. What , an ipad mini. Come on man

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I have to say it does amaze me how much profit they make considering there are more android phone and windows PC around in the world. I guess it goes to show that people are willing to pay top dollar from the "coolest" thing in peoples eyes, people think its the best so they have to have it. They over charge by a crap load and people will still buy it. Well i guess good for them....

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Surely a well educated Apple "fan boi" would know the difference between market cap and profitability wouldn't they? I have never know an Apple "fan boi" to think irrationally.

According to Forbes...

http://www.forbes.com/global2000/list/#p_1_s_a0_All%20industries_All%20countries_All%20states_

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