On Monday, Cupertino based tech giant Apple's shares crossed the landmark figure of $500 for the first ever time in the company's history. This rise came two weeks after the company disclosed its impressive sales and profits figures during last year's holiday quarter.
Soon after the stock market opened, Apple's shares hit $503.83, however, after few hours of trading they came down to $502.60. This figure is up by $9.18 which is 1.9 per cent from Friday's closing figure. With this impressive increase, Apple's market capitalisation is US$465 billion at present.
Last week an Economix blog stated, " with a market value of about $460 billion, Apple is worth more than Google, Goldman Sachs, General Motors, Ford, Starbucks and Boeing combined."
Apple disclosed its figures for the last quarter of 2011 which showed $13.06 billion profit, 118 per cent rise year on year. In fact, in a press release Apple stated that the $13.06 billion has been its highest quarterly profit till date.
The iPhone maker is stockpiling cash as well as securities worth $100 billion but, little is known about what the company is intending to do with that reserve reports New York Times.