Apple’s Market Cap Hits $637B As AAPL Opens At Record $680 Following Samsung Win
Last week, Apple won a historical patents battle against Samsung when jury awarded Apple $1.049 billion in damages. Today was the first day of trading since the court ruling and already, the Cupertino company’s stock price (NASDAQ:AAPL) is going haywire opening at a record high of $680 per share, as pointed out first by Tech Crunch.
The new stock price record takes Apple’s market capitalization to a new high of $637 billion, crossing the previous all-time high of $674.88, which was achieved last week. Jefferies analyst Peter Misek has already his price target to $900 from $800 predicting that the iPhone 5 could be the biggest handset launch in history.
Apple shares have grown more than 12% since late July when the company reported its latest earnings report. It is quite likely that Apple will surpass today’s record stock price and market capitalization several times this year.