On the same day we report on Facebook’s share price hitting a new low Apple’s stock hits an all-time high. APPL is trading as I write at $642.00, giving the company a market cap of a staggering $602.49 BILLION. It has been as high as $644.13 today.
Why this jump in value? Investors are anticipating an earlier than expected launch of the iPhone 5 – September not October – and are looking to pile in before the stock rises to $700-$750 a share before the end of the year. Yes, Andy Zaky of Bullish Cross fully expects the share price to get that high before the end of 2012.
The iPhone 5 and perhaps even the iPad Mini will see to that, TechDrink fully agrees. We are, however, slightly concerned that with all the expectation surrounding the next gen iPhone it will end up being a disappointment. That could hit the share price, but probably not by much as, perceived disappointment or not, it will still sell in the millions.
And all this in the same year that Apple actually missed Wall Street’s expectations on earnings.
When, if ever, will Apple’s bubble burst?
