Investors, market observers and mobile device users are all anxiously awaiting the launch of the iPhone 5 and the possible launch of the iPad Mini. While everyone is anxiously awaiting the arrival of the next generation iPhone, the price of Apple shares has skyrocketed to new highs. Last Friday, the price of the tech giant’s stock closed at an all time record high. During trading on Friday, the stock increased by over $12 and closed the week at $648.11.
Many experts on Wall Street attribute the surge in the stock price of Apple to investor’s anticipation of September’s rumored launch of the next generation iPhone and the possible first generation mini iPad.
Only a few weeks ago, both investors and analysts were concerned about the dipping in price of Apple stock, which took place following the release of their latest quarterly earnings that did not meet Wall Street expectations. However, since then the per share price of stock in Apple had bounced up by $73 or nearly 13%. Just in 2012, the price of stock in Apple has spiked by over 58%.
The closing price on Friday of $648.11 was a new all time high for Apple, beating the price of $633.68 that was previously the all time high set on April 5. Apple’s market capitalization, which is the value of all its outstanding shares, passed the $600 billion plateau with its closing value on Friday. It was the first time the company has reached that plateau in its existence. Apple is the number one company worldwide based on the market capitalization valuing formula.