Apple makes record in public offers as it hits $700 per share. It becomes the world’s most valuable public company, may be because of the high demand for the new iPhone 5. This pushed Apple shares above the $700 US a share level for the very first time.
The shares closed at $701.91 on the Nasdaq early Tuesday, up $2.13 from Monday’s finish. That was the first time the shares had passed the $700 level during regular trading. They first broke that level during after hours trading on Tuesday.
The demand for iPhone 5 topped two million in the first 24 hours.
Despite somewhat lukewarm reviews and some claiming it had ‘lack of a wow factor,'” Sterne Agee analyst Shaw Wu said in a note to investors. “We continue to believe many underestimate iPhone 5 in that it is a significant update and will drive a powerful product cycle.
Apple shares have almost doubled, up 87 per cent, since Oct. 5, 2011, when Apple founder and CEO Steve Jobs died.
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