Shares of $AAPL Top $100, Flirt with Record Closing High

| Apple Stock Watch

Shares of Apple Inc. topped US$100 in intra-day trading on Tuesday, trading as high as $100.525 per share in heavy volume. $AAPL's all-time closing high is $100.30 on a split-adjusted basis, set on September 19th, 2012. The stock briefly traded over $100 per share two days later, but this is the first time it has crossed that mark since.

As of this writing, $AAPL was trading at $100.43, up $1.27 (+1.28 percent), on heavy volume.

Apple's stock has been on the rise since the company announced a 7-for-1 stock split on April 23rd. In recent weeks, the stock has been propelled upwards by rumors of a large-screen iPhone 6, rumors of the iWatch, and excitement and speculation about the company's HealthKit and HomeKit developer frameworks.

$AAPL Chart

Chart courtesy of Yahoo! Finance
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Tuesday's trading got an additional boost from broader economic news, as housing starts in July were up. The U.S. Commerce Department reported that housing construction rose 15.7 percent in July, sending the markets into a broad rally.

*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

Lee Dronick

I would say that the $100 point has psychological impact, people place significance on such numbers. Hopefully it will stay in the hundreds after the iPhone 6 is announced and not be “punished” by investors for what ever reason the pundits make up.

David Winograd

Bryan,
Update your story.
AAPL closed the day at $100.53 which is an all time closing high.
By fractions but that’s where the story lies.

JustCause

Headed to $300 and another split…
Psychology and brand are reasons to buy in the under $200 range, Apple isn’t Berkshire Hathaway.It should keep it’s stock priced in the range where middle income individuals can buy and even buy and give as gifts.

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