Apple Stock Still Increasing Despite Analyst Predictions
Without any obstacle, Apple’s stock is rising upward trend with the current price increasing by 5.83% since last week’s unveiling of the new iPad. The current price has shocked many stock advisors who thought that the release od the New iPad would provide a good opportunity to sell.
Apple closed at $568.10 per share, which is currently a new all-time high, just 8 cents below the 52 week high set during the trading day.
The new value has set Apple’s market cap at $528.68 billion, which is less than a half billion less than the annual American military budget. However, it is over $120 billion higher than Exxon Mobil, which had been neck and neck with Apple in market cap over the past two quarters. Apple’s market cap (the value of all outstanding shares in the company) is now greater than the market cap of Google, HP, Microsoft, and RIM combined.
While the company’s stock has already gone up by 46.11% for the year, it seems to be up nearly another 6% since the since the iPad event last week. This was previously a time pinpointed by a variety of advisors as a good opportunity to sell. Many stock analysts and advisors described stock prices to drop around new product introductions. The company’s stock nearly fell 10% after the release of the iPad 2 last spring. However, it was past year. Since then, it has climbed nearly 54% over the past year and has not seen that drop with the release of the new iPad.