Apple’s stock continues to rise, passes $700

Ever since Apple has launched iPhone 5, the company’s stock has seen a significantly higher rising rate. It has been bolstered by the news of strong iPhone pre-order sales across all wireless carriers as well as forecasts by analysts of a record high sales by Apple this quarter.

Apple seems willing to carry on this positive sentiment. It recently announced that it was able to land 2 million iPhone pre-orders within the first 24 hours.

When Apple launched iPhone 5 on September 12th, the value of its stock was lingering somewhere near $670. As soon as the iPhone 5 was unveiled, the stock started experiencing a rather rapid rise. And within days, it has crossed $700.

The overall value of Apple is $654.8 billion. The expected sales in millions of iPhone 5 units in this quarter can be expected to significantly enhance both the stock as well as the overall value of Apple.

Then there are also the rumors that Apple is planning on releasing an iPad mini next month, in order to enter the mini-tablet market. There is no confirmation from Apple of this and so far, it remains a rumor. Yet, the stock market is often affected by such speculations. So the anticipation of yet another iPad this year may also be affecting the rise in Apple’s stock.

Salman Latif
Categories: Apple
Tags: iPhone 5