Photo courtesy: Yasuyoshi Chiba — AFP/Getty Images
By Tom Huddleston Jr.
October 22, 2014

Shares of Apple passed their all-time high point during morning trading Wednesday, putting an exclamation point on an already strong week for the tech giant.

Apple (AAPL) gained steadily to start the day and eventually touched a high-water mark of $104.11 per share, wiping out the company’s previous all-time high of $103.74 from early September. (In June, the company announced a 7 to 1 stock split.) While Apple’s shares have come back down a bit more recently, they are still up about 1% on the day and they have gained almost 6% in value so far this week. The company’s market cap is around $607 billion.

The uptick in share price follows in the wake of Apple reporting strong earnings on Monday that included a 12% third-quarter sales bump and record profits thanks to better-than-expected iPhone sales. The company also launched its new mobile payments system, Apple Pay, on Monday and the much-hyped Apple Watch is set to hit customers’ wrists early next year.

Investors will surely be keeping their eyes on Apple’s stock throughout the day today. The company’s record closing high is $103.30.

Of course, even the all-time high price for Apple stock likely won’t be high enough for Carl Icahn. The activist investor sent an open letter to Apple CEO Tim Cook earlier this month asserting his belief that Apple’s shares should be worth more than $200 each and that the company should dramatically increase its share buyback program. Icahn owns almost a 1% stake in Apple.

You May Like

EDIT POST