August 22 ,2014 | by Thiago Kiwi

Apple shares hit all-time high

Shares in Apple closed at their highest-ever level this week on 19 August, reaching $100.53.

The tech giant enjoyed a 1.4 per cent increase over the course of the day providing it with its best day on Wall Street since 13 September, 2012.

Early-morning trading in New York saw Apple pass through the $100 mark and it continued throughout the day, surpassing the previous record high of $100.27 before the closing bell.

 

It represents a huge boost to Apple which has undergone a somewhat turbulent few years since co-founder Steve Jobs died in 2011.

The past year alone has had its fair share of ups and downs with Apple’s stock price dropping as low as $55 at one point. There were suggestions that Mr Jobs’ death even impacted on Apple’s innovative capabilities.

The company has not released a new product since the launch of the last versions of the iPhone and iPad, which have effectively pioneered the smartphone and tablet markets respectively. Recently, rivals such as Samsung have started to ramp up the pressure of the Californian company but this latest boost in the share price is sure to provide some reassurance for its investors.

However, Mr Jobs’ successor, Tim Cook, Apple’s chief executive, is confident the company will return to its innovative self in the near future with a number of new products in the pipeline. Among those is the much anticipated iPhone 6.

 

Apple announced at the beginning of August that the latest incarnation of the iPhone would be unveiled on 9 September.

Re/code claimed that the company is planning a major media event which will be the prelude to the public launch on 19 September. The iPhone 6 is expected to much bigger than previous releases released as either a 4.7-inch or 5.5-inch model.

Both versions will boast in-cell touch panel technology and build on the functions introduced with the iPhone 5.

Thiago Kiwi

Thiago is the LSBF Blog Editor who manages news and features content on the site, and writes about business, finance, technology, education and careers.

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