Apple stock hits $700 for first time in after-market trading
Prices for Apple stock hit an all-time high in after-market trading on Monday, topping out at $700 after flirting with the record-breaking number since the company announced huge sales of its new iPhone 5.
After announcing its new smartphone hauled in over 2 million pre-orders in its first 24 hours of availability, AAPL prices briefly jumped past the $700 barrier on Monday, a mark the stock has been pushing toward since the company's strong third quarter earnings call in July.
When the final sales numbers are tallied, Piper Jaffray analyst Gene Munster believes Apple will move some eight million iPhone 5 handsets in its first weekend of sales, doubling the results from last year's iPhone 4S launch. Munster notes that the iPhone 5 could see an unprecedented 10 million unit sales by the end of the quarter.
In the fastest-ever launch for any Apple product, the iPhone 5 is slated to go on this Friday in nine countries, with U.S. customers able to buy the device at brick-and-mortar Apple Stores, wireless carriers AT&T, Sprint, and Verizon wireless as well as certain Best Buy, RadioShack, Target and Walmart Stores. The unit is slated to see release in 22 additional countries on Sept. 28, and will be available in 100 countries by December.
As of this writing, Apple stock is hovering just below the $700 mark at $699.78 with a market capitalization of $656 billion.
After announcing its new smartphone hauled in over 2 million pre-orders in its first 24 hours of availability, AAPL prices briefly jumped past the $700 barrier on Monday, a mark the stock has been pushing toward since the company's strong third quarter earnings call in July.
When the final sales numbers are tallied, Piper Jaffray analyst Gene Munster believes Apple will move some eight million iPhone 5 handsets in its first weekend of sales, doubling the results from last year's iPhone 4S launch. Munster notes that the iPhone 5 could see an unprecedented 10 million unit sales by the end of the quarter.
In the fastest-ever launch for any Apple product, the iPhone 5 is slated to go on this Friday in nine countries, with U.S. customers able to buy the device at brick-and-mortar Apple Stores, wireless carriers AT&T, Sprint, and Verizon wireless as well as certain Best Buy, RadioShack, Target and Walmart Stores. The unit is slated to see release in 22 additional countries on Sept. 28, and will be available in 100 countries by December.
As of this writing, Apple stock is hovering just below the $700 mark at $699.78 with a market capitalization of $656 billion.
Comments
Nine years ago, the stock was $7 a share.
NINE YEARS. A thousand shares then and you'd be 7/10ths of the way to being a millionaire, just SITTING on them.
Has any company in the history of the world ever done this?
Quote:
Originally Posted by Tallest Skil
Nine years ago, the stock was $7 a share.
NINE YEARS. A thousand shares then and you'd be 7/10ths of the way to being a millionaire, just SITTING on them.
Has any company in the history of the world ever done this?
My family has shares dating back in the 80's. We were involved in the Apple Reseller world, so we kept them through the good times and the dark times. Let's just say it's treating them very well today and have still yet to sell them.
Our financial planners still cringe when they see my portfolio, 100% Apple. I always tell him, unless you have a stock lined up that can generate me 400%+ return then I'll just stick to my own portfolio management
Quote:
Originally Posted by Soundvision
My family has shares dating back in the 80's. We were involved in the Apple Reseller world, so we kept them through the good times and the dark times. Let's just say it's treating them very well today and have still yet to sell them.
Our financial planners still cringe when they see my portfolio, 100% Apple. I always tell him, unless you have a stock lined up that can generate me 400%+ return then I'll just stick to my own portfolio management
Only wish I had gone by my instincts and ONLY purchased AAPL when I bought my first stocks. There is nothing in my very broad portfolio that has performed as well, or as consistently.
When? Your screenshot and the Yahoo AAPL quote page both show AAPL didn't break through $700 during trading today. The highest it got was $699.80.
It's over $700 in after-hours trading, however. But that doesn't count ;-)
Originally Posted by cherrypop
When? Your screenshot and the Yahoo AAPL quote page both show AAPL didn't break through $700 today. The highest it got was $699.80.
After hours. I'll see if I can drum up another one.
Quote:
Originally Posted by Soundvision
Our financial planners still cringe when they see my portfolio, 100% Apple. I always tell him, unless you have a stock lined up that can generate me 400%+ return then I'll just stick to my own portfolio management
I just spare myself that conversation. When I consolidated my 401ks into a Roth IRA about 12-18 months ago, I decided to just move it all into Apple stock. In that time, I've doubled the size of the asset. Meanwhile, my other investments are happy to give me 5-8%. Anyone telling me to change this approach needs to give me a real alternative. The sound of that advice is deafening.
Quote:
Originally Posted by cherrypop
"Apple stock hits $700 for first time"
When? Your screenshot and the Yahoo AAPL quote page both show AAPL didn't break through $700 during trading today. The highest it got was $699.80.
It's over $700 in after-hours trading, however. But that doesn't count ;-)
Here: http://www.nasdaq.com/symbol/aapl/after-hours
This started out as about 10% of my portfolio, but has moved to dominate it. I'm certainly long, as I won't trade it.
Quote:
Originally Posted by Wings
At 2 minutes past 4 it touched $700.22
Hit $ 700.44 at 16:01:49 PM.
Quote:
Originally Posted by melgross
I had Apple stock in the late '90's, where I made some good money. Was out of the market after late 2000. I came back in late 2003. In mid 2004, I bought Apple at $16.93. I've kept it ever since, and bought more at about $80 during the recession. I can't argue with this as an investment, and the new dividends, which should increase by at least 25% next year, has been a nice gift.
This started out as about 10% of my portfolio, but has moved to dominate it. I'm certainly long, as I won't trade it.
You and I both jumped at the opportunity the recession lows presented. Got mine at $85 and frankly, it was one of the most terrifying rides of my life. "Buy low, sell high" is a great guideline for jumping on a good deal, but when it looked like the "end of the world" I was sweating bullets.
Job well done Apple! I own Apple shares, too. I am happy. I hope Apple gets to $1000 this year. ohhhhhhhhhhhhh yeah
My wife is very conservative. She thinks that all investments in stocks are gambling. It took a while to convince her that Apple was a sure thing when it was at $78, or I would have bought more then, instead of a couple of bucks more. But, I'm not arguing!
I've got a couple of friends who asked me to advise them on whether to invest in Apple or not. Unfortunately, both have managed accounts, something I abhor. This was back when Apple was at about $300. Both said that the managers thought it was a great idea, and would buy in when Apple dropped back a bit. Neither has any Apple today. A lesson to be learned for neophyte investors.
I am glad to see I am not the only one. Last year I moved all my stocks to AAPL against the advice of every expert on the planet. granted I know they are 100% correct that it is stupid to put your eggs in one basket, and I don't plan on keeping it all in AAPL for long because they have a point. On the other hand in all likelihood AAPL won't crash any harder than any other stock in the near future, and I have other investments like a house, a wife, kids, a motorcycle, etc, so I am technically diversified...
My problem is I promised to sell half my stock when it hit 700 which I thought was further away... Now what do I spread out to? Facebook??
Quote:
Originally Posted by bill42
I am glad to see I am not the only one. Last year I moved all my stocks to AAPL against the advice of every expert on the planet. granted I know they are 100% correct that it is stupid to put your eggs in one basket, and I don't plan on keeping it all in AAPL for long because they have a point. On the other hand in all likelihood AAPL won't crash any harder than any other stock in the near future, and I have other investments like a house, a wife, kids, a motorcycle, etc, so I am technically diversified...
My problem is I promised to sell half my stock when it hit 700 which I thought was further away... Now what do I spread out to? Facebook??
I have no major concerns about Apple over the next 5 years or so, but I am very concerned about the possibility of another market crash and swing deeper into recession for the economy in 2013. Although the majority of them were wrong prior to the 2008 crash, many economists say we are headed for more trouble. Also, demographics being an unavoidable trend, I fully expect deflation to wreak havoc on worldwide markets over the next 15-20 years. We are lurching into a shift in the Western world's population that will affect everyone.
Quote:
Originally Posted by melgross
My wife is very conservative. She thinks that all investments in stocks are gambling. It took a while to convince her that Apple was a sure thing when it was at $78, or I would have bought more then, instead of a couple of bucks more. But, I'm not arguing!
I've got a couple of friends who asked me to advise them on whether to invest in Apple or not. Unfortunately, both have managed accounts, something I abhor. This was back when Apple was at about $300. Both said that the managers thought it was a great idea, and would buy in when Apple dropped back a bit. Neither has any Apple today. A lesson to be learned for neophyte investors.
Back when Steve got sick in early 2008 and the stock fell to the high 70's or low 80's I wanted to buy some but I was dirt poor at the time because I spent all my money moving to Houston to start my first job out of college and my company had yet reimburse me. I still haven't bought any because I keep thinking "it can't go much higher."
As always I'm an idiot
Quote:
Originally Posted by SpamSandwich
Only wish I had gone by my instincts and ONLY purchased AAPL when I bought my first stocks. There is nothing in my very broad portfolio that has performed as well, or as consistently.
I purchased my first shares of Apple at the beginning of my college career, around 2004/2005 I believe. I purchased right before the first split.
I've bought back in quite a few times over the years, including last year when it hit around 360 or so. I still have all my shares and plan on holding onto them for the near future. Being involved in Apple sales the past decade, I can easily see that Apple is on fire and it's not a fad as some people say.
People are genuinely happy with their Apple products and will continue to buy them. I have no idea how high Apple will go, but I don't see it slowing down anytime soon. Mac sales are on the rise, iPad sales are on the rise, iPhone sales are on the rise. With the new iPad coming out next month, they are going to dominate the holiday seasons.
I'm curious to see what other products Apple comes out with. With Siri and Maps now, I could easily see Apple making a car interface much like Microsoft and selling it to the car companies.
Sky is the limit for this company, certainly exciting times.