Apple hit another amazing milestone on Tuesday, July 27 as their stock closed above $400, ending at $403.61, marking the first time in history that Apple stock has ever closed above $400.
The stock hit $400 a few times on Monday before closing just under the milestone at 398.50, and shares opened today at an incredible $400. Further, it seems to me that there’s really no mystery as to why this is the case.
Apple has been hitting milestones left and right (such as hitting their 15 billionth App Store download), reported record earnings for the previous quarter, just released OS X Lion through the Mac App Store, selling over 1 million copies in 24 hours, and recently released new Mac Minis and MacBook Airs, both of which represent some of Apple’s most popular Macs.
The good news is that Apple’s stock is unlikely to go anywhere in the near future – with the iPhone 5 expected to be released in the fall, alongside iOS 5 and a possibility of a dramatically reduced price on the iPhone 3GS, Apple’s stock is only going one place – up. If they keep this up, they just might surpass Exxon Mobil to become the most valuable company in the world!