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iPhone: Article

Apple Makes It Over the $700 Hump

Apple pushed over $700 on the Nasdaq Monday after-hours, adding a buck and change to its closing price of $699.78
By Maureen O'Gara
Article Rating:
September 18, 2012 07:45 AM EDT
Reads:
 1,974

Apple pushed over $700 on the Nasdaq Monday after-hours, adding a buck and change to its closing price of $699.78.

Perhaps it was analyst speculation that Apple could sell eight million iPhone 5s this weekend after the device becomes available in the stores and stick a finger in the eye of market-leader Samsung, which has been convicted of swiping Apple technology.

Apple followers are predicting sales of 26 million this month and 58 million by the end of the year, good for upwards of $36 billion in revenues. Apple said earlier Monday that it had two million pre-orders in the first 24 hours last Friday.

Its stock is up 73% this year according to Bloomberg, which remembers it was at $500 in February and $600 in July.

Its market cap is now better than a giddy $656 billion ahead of an unconfirmed announcement of an iPad mini next month.

Published September 18, 2012 – Reads 1,974
Copyright © 2012 SYS-CON Media, Inc. — All Rights Reserved.
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More Stories By Maureen O'Gara

Maureen O'Gara the most read technology reporter for the past 20 years, is the Cloud Computing and Virtualization News Desk editor of SYS-CON Media. She is the publisher of famous "Billygrams" and the editor-in-chief of "Client/Server News" for more than a decade. One of the most respected technology reporters in the business, Maureen can be reached by email at maureen(at)sys-con.com or paperboy(at)g2news.com, and by phone at 516 759-7025. Twitter: @MaureenOGara

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