Score!! Apple Inc. (NASDAQ:AAPL) hits the big 700 finally. Seconds after the market closed on Monday, Apple shares touched $700 in after trading. Over the last few days, Apple Inc. (NASDAQ:AAPL)'s share price has been edging steadily towards its all time high. As we, and many others predicted earlier, after iPhone 5 release Apple could jump to a new level at any time within the next week. It has finally happened within less than 4 trading days. On September 12, the day when iPhone 5 was released, Apple Inc. (NASDAQ:AAPL) closed at $669.79, up from the opening price of $666.85 earlier that day. Today trading began with $694.65 and then hit $700 just moments after the closing bell. The increase is a 5 percent leap from the pre iPhone 5 value. Given Apple's impressive history of stock upswings that were witnessed after the release of iPad 2 and iPhone 4, the 5 percent jump looks small, but as it is a whole new set of numbers, it looks truly fascinating.
Apple Inc. (NASDAQ:AAPL) began CY2012 with $409.40, at $700 the stock has appreciated approximately a whopping 71 percent. Whoa! If Apple achieves similar leaps, which is highly likely, Gene Munster's $1000 valuation will materialize very soon in the future. Apple's rivals, Google Inc (NASDAQ:GOOG) share price has increased ($652.94 to $710), a teensy 8.7 percent year to date in comparison. Microsoft Corporation (NASDAQ:MSFT), is up 19 percent for the year so far.
Apple Inc. (NASDAQ:AAPL) is breaking records everywhere, the company caught 2 million in preorders in 24 hours. "The customer response to iPhone 5 has been phenomenal," said Philip Schiller, Apple's senior vice president of world-wide marketing, in a press release Monday. The present sales break the previous record of iPhone 4S, which notched 1 million orders over the same time period. There is no stopping this bullet train of a company.