2013 has been a rocky year for Apple Stock, but it looks like Wall Street might be ending the year bullish on Wall Street, with shares of AAPL closing at an all-time high last night.
For those who don’t remember, on January 24th this year, Apple shares went plunging from $514 a share to around $450 a share in just a single day. From there, AAPL hit its yearly low in April 2013, being valued by Wall Street at just $390.53 a share.
Luckily, since then, the company that once tipped $700 per share has seen a slow and steady rise in its share price. Buoyed by new iPhones and iPads, in fact, Apple’s shares closed last night at $533.40.
That’s still less than what Apple was worth just a year ago, when Apple traded for about $50 more a share. But as far as this year is concerned, it’s a new high. Let’s hope it keeps rising.
John Brownlee is a writer for Fast Company, and a contributing writer here at CoM. He has also written for Wired, Playboy, Boing Boing, Popular Mechanics, VentureBeat, and Gizmodo. He lives in Boston with his wife and two parakeets. You can follow him here on Twitter.
4 responses to “Wall Street Is Starting to Screw Its Head On Right About Apple”
One day’s rise doesn’t mean a thing. It can just as easily fall the next day with Apple. The stock has no momentum at all. it trades up or down in fractional moves depending on the direction of the wind while most of the tech stocks have gone straight up like rockets. Apple has become such a lousy investment last year and this year. Absolutely pathetic. Tim Cook can make all the promises he wants but there’s nothing he can do to help shareholders as long as Apple is going to continue sitting on its cash hoard and doing nothing with it. I’m not talking about buying $350 million companies. Any struggling company can do that much. I’m talking about some ready-made revenue stream by acquiring a healthy company. Anyway, I’m not breaking out any champagne because the stock went up one day after months of relative inactivity. I can hope it keeps rising, but I’m not counting on it. It’s been outperformed by practically every stock on the sharply rising market as far as share gains go. I’ll just have to be content with the dividends.
AAPL is up almost 40% in the last seven months.
That’s a pretty good return on an investment.
Apple’s all time high was north of $700.
Tim Cook and Apple couldn’t care less about the stock price and shareholders. Wall Street knows ZERO about what Apple is doing and where it is going and the stock price has never been indicative of that. Apple will continue doing what it wants and making boat loads of money while investors whine and complain while continuing to be as ignorant as ever.