Apple stock reaches milestone number
Apple marked a juicy milestone with its stocks, the fresh buzz over a possible iPad 3 release certainly not hurting. [READ MORE HERE]
The tech company’s stock, (AAPL, Fortune 500) propelled to new heights Tuesday, reaching $500 billion dollars.
That puts Apple in exclusive territory. It’s one of the five most valuable companies at any point in history.
The only companies that have surpassed that mark:
· Exxon Mobile
· General Electric
The company is also now worth more than several countries, including Poland, Sweden, and Saudi Arabia.
Just in case you want a piece of the pie, stocks are going for about $539 a share.
CNN Money reported that this rise isn’t a recent development. Apple shares have been rising at a consistent trajectory for the past three years. CNN Money said that in comparison to the profit Apple makes, their stocks are relatively cheap.
They said that over the past two years, Apple’s stock has grown 150% and profits have soared 286%.