Apple Shares Hit $500 Again, Representing A Massive $100 Billion Market Cap Gain In 48 Days
Apple shares (NASDAQ:AAPL) are currently up 2.79 percent to $503.25 a share in the wake of Carl Icahn’s lobbying efforts on Twitter. Yet, the stock performance of the past two days shouldn’t diminish the overall performance over the past two months. In less than two months, Apple has indeed gained $100 billion in market capitalization.
On June 27 of this year, shares closed at $393.78, roughly back to their December 2011 level. Today’s price represents a 27.8 percent increase in just 48 days. The last time shares were trading above $500 was on January 23. It proves once again that AAPL still suffers from a lot of volatility and uncertainty.
Even though net profit is still declining, Apple reported good numbers for its Q3 2013 fiscal quarter. After multiple mixed quarters, the company managed to beat the analysts’ expectations. Retrospectively, the market reaction to Q1 and Q2 numbers…
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