AAPL achieved its highest close since the earliest days of January yesterday, when the stock closed at $533.10, on Tuesday 26.
Apple’s stock is now up 2 percent on its value at the start of the year, and has risen 20 percent since the summer. Obviously, Apple is still a fairly long way off its September 2012 high of $700 a share, which dropped by 30 percent in the following months.
Having said that, investors will be very pleased that as the holiday season looms near, Apple’s stock is once again on the up. Arguably, with the introduction of a swathe of new products, Apple’s arsenal is now stronger than ever. Apple continues to post massive profits each quarter, and it’s almost certain that, for the near future at least Apple’s stock will continue to rise. Apple’s shares have grown by 10 percent since the first of September.
Apple’s high, marked by the blue dot, in comparison to the previous 5 days…
Apple managed to save around $3.2 billion by buying back 36 million shares in the June quarter. Those shares averaged at $444 a share, and made the move significantly cheaper for Apple, compared to a similar move that might have taken place later in the year.
Following the high close yesterday, Apple’s shares have risen by another 10 points this morning, and are currently sitting at $543.60.