Apple closed out of the stock market Tuesday with a share value of $100.53, an all-time high closing value for the company, CNET reported.
Here's What The iPhone 6 Looks Like
Excitement behind the expected Sept. 9 reveal of the iPhone 6 is likely what is driving the growth in Apple stock. The previous record holder for all-time high share value for Apple? Sept.19, 2012, in the days right before the launch of the iPhone 5. Shares of Apple soon fell to just shy of half that amount by the summer of 2013. The previous record closing value of $100.30 (adjusted because of a financial move Apple took in June which split up each share of existing stock into seven shares each with one-seventh of the original value) shows the kind of effect a new version of Apple's ubiquitous device has on the company's success in the public market.
Today, Apple stock passed another record, this time for the highest intraday value. The previous record was held by the iPhone 5's launch day, which saw an intraday share value of $100.72. As of this writing, shares of Apple today have seen values surpassing $100.80, and they don't seem to be stopping any time soon. If 2012 is any indicator, the company's shares will continue to rise in value at least until the iPhone 6 hits shelves. Incidentally, if you're interested in seeing how high Apple's stock can grow today, you can watch the "action" in real time over at Google Finance.
The tail end of 2014 could prove to be a chance for significant growth for Apple. With the almost assured popularity of the upcoming iPhone 6 and rumors swimming around about some sort of iWatch in the works, there's no reason that Apple stock shouldn't be able to continue to plow through records as we wait for what the company has in store next.