Apple Shares Break $100 Mark After 7-for-1 Split On iPhone 6 Launch Optimism
Behind closed doors, Apple is expecting its iPhone 6 launch to not only break records, but to shatter them. Shareholders are evidently in the same boat, and as we inch closer to the iPhone 6 debut -- Apple is expected to announce the device during a scheduled press event on September 9, 2014 -- the Cuptertino company's stock price is seeing increased activity.
Shares of Apple closed at $100.58, a 1.4 percent increase and also a new high, besting the previous record closing price of $100.30 (after adjusting for a recent 7-for-1 stock split) in September 2012 after Apple introduced the much anticipated iPhone 5. Fickle investors would go on to hammer the stock price, sending it down by as much as 40 percent despite solid earnings quarter after quarter, yet here we are again.
In early morning trading today, shares are down slightly (0.15 percent) as they hover around $100.38, though still highly optimistic. Apple now has an obscene market capitalization of over $601 billion.
What's interesting about the surge in stock price to record levels is that it might end up being just the tip of the iceberg. Apple is expected to announce at least two iPhone 6 models, one with a 4.7-inch display and another with a 5.5-inch screen. If the rumors turn out to be true and Apple goes through with launching a phablet-sized iPhone to compete with larger Android devices, it could see explosive demand. As it stands, Apple has already reportedly asked suppliers to prep 70-80 million large screen handsets in anticipation of the launch.
Shares of Apple closed at $100.58, a 1.4 percent increase and also a new high, besting the previous record closing price of $100.30 (after adjusting for a recent 7-for-1 stock split) in September 2012 after Apple introduced the much anticipated iPhone 5. Fickle investors would go on to hammer the stock price, sending it down by as much as 40 percent despite solid earnings quarter after quarter, yet here we are again.
In early morning trading today, shares are down slightly (0.15 percent) as they hover around $100.38, though still highly optimistic. Apple now has an obscene market capitalization of over $601 billion.
What's interesting about the surge in stock price to record levels is that it might end up being just the tip of the iceberg. Apple is expected to announce at least two iPhone 6 models, one with a 4.7-inch display and another with a 5.5-inch screen. If the rumors turn out to be true and Apple goes through with launching a phablet-sized iPhone to compete with larger Android devices, it could see explosive demand. As it stands, Apple has already reportedly asked suppliers to prep 70-80 million large screen handsets in anticipation of the launch.
