Shares of Apple’s stock, which trade under AAPL on Nasdaq, broke the US$500 mark for the first time in the company’s history during Monday morning trading. A CNBC article noted that Apple is now halfway to a $1 trillion valuation, which will be the first ever.
Apple’s valuation is currently around $460 billion, more than Google and Microsoft combined, and it will hit $500 billion at the $537 share price. CNBC said that ExxonMobil hit that mark in 2007, and during the tech bubble, Intel, Cisco, and GE all reached it, with Microsoft topping out at $650 billion in 2000. Many tech companies, except Apple, have sharply declined since then.
Apple’s stock hit a high of $503.83 in morning trading and dropped down to $499.81 at the time this article was published.