Apple achieves $500 per share


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Apple ( AAPL ) achieved a significant accomplishment on Monday when its shares pushed north of $500, according to published reports.

Bloomberg attributes the upward drive to two weeks of strong performances that culminated with the share price achieving $503.83. The Cupertino, California -based company also was driving toward 20 percent gains during the first quarter of the year.

"It reminds us all of the amazing transformation of Apple over the past eight years," Apple owner Timothy Ghriskey told Bloomberg on Monday. "We think the stock has higher to go, $600 is next. It's still an inexpensive stock for a company that is executing at the very highest level and continues to innovate."

Propelled by sales of the iPod, the iPhone and the iPad, Apple shares have climbed 17 percent during the past 30 days.

CNN reports Apple pushed past $400 per share six months ago and $300 per share 16 months ago.

Stock has increased 40 percent during the past 12 months while profit has increased 117 percent since the first fiscal quarter of last year.

At 2:35 p.m. on Monday, Apple stock increased 1.51 percent, a $7.45 lift to $500.87 per share.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , Business , Technology
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