They didn't quite get there before today's closing bell rang,
shares have finally topped $700 for the first time in
After threatening to top $700 all day, the shares got there
within minutes of the market's close. The stock closed regular
trading at $699.80 per share.
The stock rose 1.2% today to bring its total return since
unveiling the iPhone 5 last Wednesday to just under 6%.
in the hours after the iPhone was introduced, AAPL shares are now
on track to get their usual post-iPhone/iPad announcement push.
The stock has averaged an
the last three times the company revealed a new high-profile
At $700 a share, Apple joins an elite group of stocks to have
ever reached such a lofty share price. That group includes
), Priceline.com (
The Washington Post (
Google just re-crossed the $700 threshold after a nearly
Most analysts think Apple shares aren't done growing.
The stock's mean one-year target estimate, according to Yahoo!
Finance, is $757 a share. That would require another 8%
Considering the stock just jumped 6% in the three days since
the company introduced a new iPhone that many said lacks a "wow"
factor, another 8% boost seems realistic.
So while it's impressive that Apple shares just topped $700,
what's more impressive is that the stock is somehow showing no
signs of slowing down.