We mentioned a couple of days ago that AAPL stock was approaching a high for the year, and it has now broken the $549.02 at which it began the year.
The company has experienced a roller-coaster ride in its stock price, almost entirely divorced from any product-based reality. The value placed on the company by the market at any given time has more to do with the gap between rumors and product launches, and of course short-term speculation …
Its climb in the latter half of the year was given a boost by a vote of confidence by billionaire investor Carl Icahn, who tweeted in August that he considered AAPL “extremely undervalued” and that he’d taken a “large position” in the stock – which later reached around $2.5B.
Tim Cook last month told Apple employees that the company had never been stronger.
The company broke $500 following a record 9M iPhone sales in the opening weekend, and high-end guidance for the following quarter.
Apple remains the most valuable company in the world, with a market cap of close to half a trillion dollars ($490B).
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