Shares in Apple Inc., in the parlance of a decade better left behind (alternately, there’s this decade), keep on truckin’. AAPL set a new closing high on Monday, ending the trading session at US$614.48, up $7.50 (+1.24%), on what has become light volume of 21.5 million shares trading hands.
This is the second record close in a row following a drop in the stock sparked by a trading glitch on Friday resulted in trading being halted on the stock. A new trading platform called BATS launched on Friday, but a software glitch in the company’s servers caused a single trade to execute at a price low enough to trigger an automatic halt.
The problem didn’t involve Apple as a company or anything related to Apple’s stock, and trading quickly resumed, but it erased the gains from several previous trading sessions. Those loses were made up on Monday, when the stock closed at a record $606.98, and then again on Tuesday, with above-mentioned new record.
AAPL set an intraday high on Tuesday, as well, hitting $616.28 in the last hour of trading before retreating slightly. All three major U.S. indices closed slightly lower, a move influenced by lower consumer confidence numbers and lower average home prices for January.
The new closing high gives Apple a market capitalization of $572.9 billion, still the world’s most valuable company.
*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.