Apple shares closed at a record high last week, hitting triple digits for the first time since September 2012.
The expected release of the iPhone 6 in the coming weeks drove the company’s shares up to US$100.68 in mid-afternoon trading Tuesday US time, before closing at US$100.54, the company’s highest mark ever when taking into account the 7-for-1 stock split in June.
The stock rose 1.4 percent on the day and beat the previous record closing price of US$702.10, or US$100.30, when the split adjustment was made 19 September 2012, days before the release of the iPhone 5.
Multiple reports indicate that Apple is holding an iPhone event 9 September, which coincides with the company’s pattern of releasing a new iPhone each of the past two years around mid-September.
Apple senior vice president Eddy Cue, in late May at the Code Conference, said: "Later this year, we've got the best product pipeline that I've seen in my 25 years at Apple."
Some industry players have said Apple has not had a truly innovative product since the passing of former company CEO Steve Jobs, but Apple partners see the stock price boost as an answer to those critics.
This article originally appeared at crn.com
.png&h=142&w=230&c=1&s=1)
.png&h=142&w=230&c=1&s=1)
.png&w=100&c=1&s=0)
