$AAPL Closes above $600, First Time Since October 2012

| Apple Stock Watch

Shares of Apple Inc. closed above US$600 on Monday, the first time $AAPL has done so since October 26th, 2012. The stock ended the day at $600.96, a gain of $8.38 (+1.41 percent), on light volume of 10 million shares trading hands.

$AAPL last traded above $600 on November 1st, 2012, when the stock hit $603 in intraday trading. It last closed above that mark on October 26th, 2012, when it ended the day at $604 per share.

AAPL Chart

Five Year Chart for $AAPL
Source: Yahoo! Finance

Those levels were on the downward slope of sharp decline that began just a few weeks before, as shown in the chart above. $AAPL hit a closing high of $702.10 on September 19th, 2012, and sank to a multiyear low of $390.53 one year later on September 19th, of 2013.

Apple's stock has been on a tear since the company announced results for the March quarter of 2014 on April 23rd. In addition to higher-than-expected iPhone sales, Apple announced an increased dividend and share buyback program, as well as a 1-to-7 stock split that will take place in June.

At Monday's closing price of $600.96, each share become seven shares trading at $85.85..

Monday's gains were steady, with the stock gaining in the opening hour of trading and staying in positive territory for the rest of the day. All told, $AAPL has gained $76.21 per share since April 23rd's closing price of $524.75, a gain of some 13.7 percent.

AAPL Chart

Monday's $AAPL Chart
Source: Yahoo! Finance

*In the interest of full disclosure, the author holds a tiny, almost insignificant share in AAPL stock that was not an influence in the creation of this article.

Comments

RonMacGuy

(Mr. Burns voice) “Excellent, Smithers!!”

Lee Dronick

  (Mr. Burns voice) “Excellent, Smithers!!”

And the Comic Book Guy is extolling the virtues of Android. smile

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