It seems that not only consumers love Apple's new products, but investors, as well. Apple has made some big changes this year to how it handles its finances and stock. The biggest change was the 7-for-1 stock split, which means, in plain English, that more regular investors have been invited to buy Apple's stock as 1 the price of 1 share has been "cheapened" by 7 times.
And it seems that Apple is now reaping the benefits. The Apple stock has crossed the $700 billion market capitalization as the price per share reached more than $119.65. At a pre-split price, this translates into $837.13.
The last time when the stock peaked was back in late 2012, when it topped out in the mid $650’s. So, what we're witness right now is $50 billion increase from two weeks ago. Here are some more details:
Through 2013, the price tumbled over investor doubts about new product categories and Cook’s leadership. In recent months, though, $AAPL stock has returned and surpassed its 2012 highs. The reduction in shares due to Apple’s buybacks program has been more than offset than share price growth, off the back of the company’s strong earnings and forecasts.
Apple's share price has increased by 50% since January 2014, and its market cap rose by almost the same multiple. At the moment, Apple is alsop the most valuable company, surpassing second-place Exxon Mobile which has a market cap of $400 billion.