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Apple stock reaches a new high, thanks to new iPhone rumors

Thanks to the new iPhone rumors, Apple's stock has reached an all-time high

| Business, Financial & Legal News | Posted: Aug 20, 2012 8:28 am

Apple's new iPhone has caused quite the stir in the world, not just among Apple fans, but technology fans and now people who hold Apple shares. If you thought the shares in Apple couldn't do any better, well, they have, and they're sitting at $648.11 per share.


TweakTown image news/2/5/25376_02_apple_stock_reaches_a_new_high_thanks_to_new_iphone_rumors.jpg


This is most likely due to the barrage of news we've seen in the form of rumors and speculation based on the upcoming new iPhone, as well as the iPad mini. Considering that the company holds a tidy $607 billion in the bank, Apple could be heading toward that magical $1 trillion mark in the not too distant future. What's scarier, is the Cupertino-based company's shares have increased by a whopping 57% this year, from the low $400 mark to the now $648.11 per share.


But the fun doesn't end there, if Apple hits $1,072 per share, they'll be the first ever company to reach the $1 trillion market cap. The way things are going, there's nothing stopping them. Even if the new iPhone comes out and doesn't impress in the technology community, it'll still sell in the tens of millions anyway.


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