AAPL hits milestone $500 per share, just days before split
Apple's stock has hit a new milestone -- $500 per share -- in pre-market trading on Monday after a particularly profitable quarter.
The milestone comes shortly after Apple blew away all expectations for the June quarter. Apple reported revenue of $59.7 billion for the third quarter of 2020, profoundly beating Wall Street estimates, in a quarter where the company continued to feel the effects of the COVID-19 pandemic. Overall revenue for Apple was up 11% from Q3 2019, when it reported a record-setting $53.8 billion.
A week after Apple became first U.S. company traded on Nasdaq to have a valuation in excess of $2 trillion, it hit the $500 milestone. The milestone was hit outside of normal trading hours, with the stock opening at $514.71 per share.
The company had seen a low point in March, but recovered its losses in May. Since then, prices have been steadily on the rise despite coronavirus-related impacts on the global economy.
In July, AAPL share prices hit the $400 milestone. The stock price surge came after Apple reported third-quarter earnings that smashed analyst expectations. Although the company didn't guide for the June quarter, the general consensus pre-earnings report averaged $51.47 billion.
Apple's board of directors announced a four-for-one stock split that would occur on August 31. This is just six years after the previous split, "to make the stock more accessible to a broader base of investors."
January saw a record high of $300 per share, owing much of its success to immense gains in wearables and continued services growth.
The milestone comes shortly after Apple blew away all expectations for the June quarter. Apple reported revenue of $59.7 billion for the third quarter of 2020, profoundly beating Wall Street estimates, in a quarter where the company continued to feel the effects of the COVID-19 pandemic. Overall revenue for Apple was up 11% from Q3 2019, when it reported a record-setting $53.8 billion.
A week after Apple became first U.S. company traded on Nasdaq to have a valuation in excess of $2 trillion, it hit the $500 milestone. The milestone was hit outside of normal trading hours, with the stock opening at $514.71 per share.
The company had seen a low point in March, but recovered its losses in May. Since then, prices have been steadily on the rise despite coronavirus-related impacts on the global economy.
In July, AAPL share prices hit the $400 milestone. The stock price surge came after Apple reported third-quarter earnings that smashed analyst expectations. Although the company didn't guide for the June quarter, the general consensus pre-earnings report averaged $51.47 billion.
Apple's board of directors announced a four-for-one stock split that would occur on August 31. This is just six years after the previous split, "to make the stock more accessible to a broader base of investors."
January saw a record high of $300 per share, owing much of its success to immense gains in wearables and continued services growth.
Comments
When it's reported on Wall St. it's just a $1 move, nothing to notice... but I'm $2500 richer or poorer for it.
To ignore the psychology of pricing is, imho, missing out on the joys of splits.
Now, if we want to get me depressed, let's talk about my "wise" investments in Frontier Communications and Real Goods Solar at $5. There, I really did lose $2500, and it ain't coming back. But then again, a good day where AAPL goes up $1/share post spilt puts salve on that wound.
People said that at $150. Then $200. Then $250. Then $300.
Who the fuck knows anymore.
Does your crystal ball say that AAPL will be flat or negative before then? Then you'll have made the right decision.