On Monday Apple shares hit a new high of $664.75, pushing the company’s overall value to $619 billion. That price tops Microsoft’s December 1999 value of $618.9 billion, previously the record.
It’s been an incredible year for Apple. Back in October the firm lost its leading visionary, co-founder, and former chief executive officer, Steve Jobs. At the time the firm’s share value was $378.55, meaning that in just ten months new CEO Tim Cook has overseen a stock value increase of 43 per cent.
Apple can credit speculation for the surge. Experts believe that new rumors involving the possible future unveiling of an iPhone 5, iPad Mini, and new Apple-based television device are together responsible for the upsurge in share values.
Wall Street analyst Scott Sutherland believes most investors want to profit from the stock surge that emerges whenever Apple unveils a new device.
“This time around, investors are a little bit smarter across the board,” Sutherland said. “They don’t want to be caught not involved in the stock on this next iPhone launch.”
The most interesting of the three rumored devices may be the iPad Mini. The current iPad (currently sold in its third form) measures 9.7-inches and retails for $499.99, and up. However, a new tablet market segment has emerged in the sub-$200 range with the release by Amazon, Google, and Barnes & Noble of their Kindle Fire, Nexus 7, and Nook Tablet devices. These latter three devices feature 7-inch displays.
There are also rumors that Microsoft will price its Surface tablet in the sub-$200 range, though it’s likely the Redmond, Washington-based firm will release a number of Surface devices with varying prices.
There’s little doubt that Apple would like to steer revenue away from these firms by releasing its own, smaller tablet computer.