Apple stock price hits $500 for first time
- — 15 February, 2012 02:06
Shares in Apple hit the $500 mark for the first time ever at the close of trading on Monday.
The news comes on the back of a record-breaking quarter for the company, in which its net profit more than doubled to $13.06bn.
The company is now worth $460bn, a far cry from 1997 when Apple shares were worth a lowly $3.19 and the company faced bankrupcy.
At the close of trading yesterday Apple stock was worth $502.60 - that's £319.68 - and as Apple Insider] reported last week, it is worth more than Google and Microsoft combined.
Central to Apple's efforts to staying ahead of its rivals will be the launch of a third-generation iPad, which is likely to happen within the next month or two, as well as a sixth-generation iPhone and possibly a foray into the smart TV market later this year.
It is also thought that Apple is planning to boost its Mac line-up - which has gone from strength to strength in the UK and European markets despite a general downturn in PC sales - with a completely redesigned MacBook Pro that may launch in the second quarter of this year.
