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11-27-2013, 03:28 AM #1
Apple Stock Closes at Highest Point since Start of 2013
Apple’s stock ended up closing up nearly 2%, reaching $533.40 for the highest close since the first days of January. The company’s stock is now up slightly from the beginning of 2013 for the first time since it dropped $100 per share in January. For those of you who didn’t know, after its plunge, the stock remained in the low 400s throughout most of the spring and summer.
The Cupertino California company took advantage of its acutely low stock price earlier in a buyback program that floated a bond offering to buy back 47 million shares. The 36 million shares Apple ended up buying back in the June quarter at an average of $444 per share would now cost an additional $3.2 billion to acquire again at the current price.
Source: Google Finance