Apple Shares Top $300 For The First Time
It was bound to happen sooner or later. Today, shares of Apple exceeded $300 per share for the first time in company history. In recent months, the surge in Apple stock has ignited tech stocks overall as the market continues to roar back from an economic downturn that - despite being far from over - has recovered substantially from the depths of the Dow in Spring 2009.
During the May 2010 "flash crash" when stocks plummeted some 1000 points in a matter of minutes, shares of Apple briefly traded $200. Now trading above $300, many investors who bought the year's low in Apple stock are now sitting pretty. Even investors who came late to the party are still enjoying a substantial return on profit, as shares of Apple have risen better than 25% just since late summer.
According to Market Watch, Apple’s stock is up more than 42%, on the year "mostly due to what analysts see as the potential for growth from the iPad and the iPhone 4 handset." And as more and more financial institutions (like Barclays
, which MMi covered this week) forecast Apple stock to reach close to or above $400 per share, many investors are taking a fresh look at today's all-time high and evaluating the stock to still be relatively "cheap."