Tech giant Apple stock rose above the $100 per-share barrier on Nasdaq. Apple climbed to as high as $100.68 a share, marking a one-year high. After the company’s 7-1 stock split went into effect, Apple shares started rising steadily approaching to its all-time intraday high of $705, reached in September 2012. So the stock closed at $100.53, thus marking a new record high (adjusted after the stock split which is $100.3).
Experts claim that the main reason of such a high result is the company’s successful work for the past reporting quarter. Thus, Apple reported revenue of $37.4 billion with a net profit of $7.7 billion (up 12%) in their earnings for Q3 2014. The report encouraged market players.
Moreover, analysts predict further rise in Apple shares ahead of the release of the iPhone with a larger screen and the iWatch. Apple stock split 7-for-1 was another thing that boosted its shares price and made the asset more affordable for retail investors.
Apple's market capitalization is $597.3 billion making it the world’s largest company measured by stock-market value.
