Apple’s stock set all time high
Apple’s shares set yet another all-time high on Friday on emerging expectations for an upcoming wave of new gadgets. Apple’s stock reached $644.13, beating the previous high set in April. Its shares blew through a series of record highs in the first four months of year, but leveled in May after Apple reported that its iPhone sales had plateaued.
Apple, the most valuable company in the world, announced the anticipated September launch of the new iPhone, which lifted its stock once again. On Thursday, Apple’s shares ended at $636.54, its highest closing price ever. If the company’s shares reach $663.68, Apple will become the most valuable company of all time, trumping the record Microsoft set in 1999, according to Howard Silverblatt, S&P’s senior index analyst.