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Apple shares hit $500mark for first time

Washington, Tue, 14 Feb 2012 ANI

Washington, Feb 14 (ANI): Apple's shares broke the 500-dollars mark for the first time on Monday.


The latest milestone for the firm, in an almost unbroken rise over the last decade, solidified its position as the world's most valuable company by market value at close to 466 dollars billion.


The stock spiked up two percent in early trading Monday, hitting 503.73 dollars, before dropping back below 500 dollars later, The Los Angeles Times reports.


According to the report, in early 2002, Apple's stock was worth 10 dollars per share.


Apple is now coasting off of the best quarter in its 35-year history, having sold a record number of iPhones (37 million) and iPads (15.4 million) generating 46.3 billion dollars in revenue, one of the strongest quarters ever for a technology company.


According to analysts, 2012 could be even better for the tech firm, with many predicting that Apple will unveil a new iPad in March. (ANI)


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