Apple Shares Reach New Heights

Apple's stock gained $6.94 or 3.4 percent on Christmas Eve, closing at a record high of $209.04, $2.04 higher than the previous closing high of $207 on November 17th.

The share price saw a phenomenal increase based on the rumors of the launch of the widely anticipated and still unconfirmed tablet PC from the company which has a history of introducing revolutionary products like the popular iPhone and the iPod media players.

Meanwhile, the Financial Times last week reported that the company as booked a stage at the Yerba Buena Center for the Arts located in San Francisco for a couple of days, further feeding the rumors of a possible tablet PC offering by the company.

Market analysts reported that the shares of the company have increased a whopping 145 per cent this year to date after witnessing a downfall of 57 per cent during the market meltdown in 2008.

The company's stock market value now stands at $188 billion, gaining over the market value of big guns like IBM ($177 billion), General Electric ($164 billion) and Chevron ($155 billion) and fast approaching that of Google which has a stock market value of $196 billion and Wal-Mart at $204 billion.

Our Comments

Apple market capitalisation is set to overtake Microsoft and Walmart and could well become the world's largest company in the world by this time next year. The company's marketshare has reached more than $190 billion as of this morning with shares inching a bit higher at $211.

Related Links

Apple almost reaches market parity with Google, Wal-Mart

(Economic Times)

Apple stock soars to all-time high

(LA Times)

Apple stock at all-time high on tablet rumor

(SF Gate)

Apple stockholders get record high for Christmas

(CNET News)