Apple At $700 Per Share
While much attention is focused on the release of the iPhone 5 as it makes its debut on the world stage, Apple hit a new all-time high of $705.07 in intra-day trading and closed the week at just over $700 per share.
When the AFB began tracking the share price about 11 years ago, Apple traded at just a fraction above the company’s cash per share. With a market cap of over $650 billion today, it’s been a scenic ride over these years.
At $800 dollars per share Apple’s market cap will approach three-quarters of one trillion dollars. The release of the iPhone 5 moved the shares $700. What events or catalysts will move the shares to $800?