Apple Shares Crossed The $500 Milestone TodayBy: Drew Bowling - February 13, 2012
When it comes to money, Apple is the pinball wizard who never misses the replay. Every few days in 2012 (and every day every year, really, but 2012 especially), it seems like the company keeps getting richer and richer. Today would be one of those days as Apple shares exceeded the $500 mark for the first time.
Apple shares were inching toward this milestone last week when they topped out around $496 on Thursday, thereby making Apple worth more than the combined value of Microsoft and Google. When the market opened this morning, Apple shares jumped up from $493.42 to $503.73. Shares have since staggered back down below $500 throughout the day although as of writing this they currently hang just above $501.
Shares of Apple have been surging in the past month. A month ago on January 13, shares reached a value of $419.86. That a mere month has passed yet shares have appreciated as much as they have is really staggering. Makes you wonder what these stock broker-trader-Wall Street-exchanger-speculator-rich people think is coming down the Apple pipes later this year.
If you go check out the Google Financial page of Apple’s movement on the stock market, you can literally watch the tech company getting richer. Depending on what kind of person you are, watching that page is a great mechanism for either the happiest or most depressing drinking game ever.