Apple shares hit $700


Shares in technology giant Apple (Nasdaq: AAPL) reached US$700 in US after-hours trading, nearly double its 52-week low of US$354.24, as the company announced that it sold more than 2 million units of the new iPhone 5 in 24 hours. Shares are up 20% for the quarter and nearly 75% for the year — run of the mill for a company that has seen its shares increase nearly 100 times over since a low of US$7.07 in 2003.

The US$700 mark is another all-time high for Apple — by some measures the world’s largest company ever — which rose on Friday as well on rumours of the iPhone 5’s success.

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A version of this article, written by John Divine, originally appeared on fool.com

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