Apple’s market capitalization has gone beyond 620billion as its stock sky rocketed at 2.6 percent on Monday. Data provided by S&P Dow Jones Indices revealed, Apple shares closed at an incredible high of $666.15 with a market capitalization of $623.5 billion; thereby surpassing Microsoft’s record of $620.8 billion set during it’s hey days, year 1999.
Midway in August Apple’s shares are almost up by 9 percent and with the upcoming iPhone 5 expected on September 12, analysts believe the share would go up further. Apple’s rise in share value rallies around product launches and product rollout. Stock experts point out that iPhone brings in chunk of the revenue from sales and with the new iPhone 5 expected soon there will be a manic rush for shares of the company.
Even As Facebook shares continue to fall, Apple share are climbing and are expected to go up further reveal analysts. In an email Senior Index Analyst S&P Dow Jones Indices said” Everyone loves a winner; if you play the quick trade be careful. If you are an investor, check the fundamentals and business plans, and avoid the hype in your decision”.