Apple Shares Hit New High, Just Weeks Before New iPhone's Arrival
August 17, 2012
After a six-week decline that started on May 18, Apple’s stock is once again on fire. For the first time since April 9, the stock finished ahead of $630 a share, according to Fortune.
A little less than three weeks before Apple is likely to unveil the new iPhone, their stock has hit another all time high. At the close of business yesterday, Aug. 16, Cupertino hit $634.54 a share. The milestone was reached on the day Apple disbursed dividends to their stock holders for the first time in 17 years.
According to Bullish Cross’ Andy Zaky, the stock could hit $700 a share before the sixth-generation iPhone debuts, most likely on Sept. 12.
Apple’s stock rise comes despite missing financial targets last quarter.
Source: Fortune
