Top Nav

Apple (AAPL) Shares Top $700 After Hours

They didn’t quite get there before today’s closing bell rang, but Apple (NASDAQ: AAPL) shares have finally topped $700 for the first time in history.

After threatening to top $700 all day, the shares got there within minutes of the market’s close. The stock closed regular trading at $699.80 per share.

The stock rose 1.2% today to bring its total return since unveiling the iPhone 5 last Wednesday to just under 6%.

After a slow start in the hours after the iPhone was introduced, AAPL shares are now on track to get their usual post-iPhone/iPad announcement push. The stock has averaged an 11% pop the last three times the company revealed a new high-profile gadget.

At $700 a share, Apple joins an elite group of stocks to have ever reached such a lofty share price. That group includes Google (NASDAQ: GOOG), (NASDAQ: PCLN) and The Washington Post (NYSE: WPO). Google just re-crossed the $700 threshold after a nearly five-year absence.

Most analysts think Apple shares aren’t done growing.

The stock’s mean one-year target estimate, according to Yahoo! Finance, is $757 a share. That would require another 8% increase.

Considering the stock just jumped 6% in the three days since the company introduced a new iPhone that many said lacks a “wow” factor, another 8% boost seems realistic.

So while it’s impressive that Apple shares just topped $700, what’s more impressive is that the stock is somehow showing no signs of slowing down.

Strike Price Offer

The Strike Price is your leading resource for insight into the world of options trading. Chief options analyst Andy Crowder will guide you through the best options strategies—telling you exactly where he's putting his money, and how you can make safe, reliable gains from some simple options trades. Your FREE subscription also includes Andy’s report "The One Vital Rule for Every Options Trade"—which reveals the #1 rule to achieve a high win-rate in every options trade.
You've successfully subscribed, click the link in your email to confirm your subscription.
There was an error, and you have not been subscribed, please try again.