Apple Shares Break $700 Upon Apple Pre-Order Sale Announcement

Apple is shattering records by the day as yesterday they’ve reached the $700 barrier in after-hours and today they actually have topped out at $701.44! Their market capitalization hasn’t been short of impressive either, as the Cupertino company reached $657 billion earlier today.

This is all fueled by the newly announced iPhone 5, which is expected to shatter previous release sale records. They have already come public that pre-order sales have blown-up thus far. A massive 2-million sales was announced yesterday, which may have had an effect on the minor growth in share pricing.

The iPhone 5 sports a larger 4-inch display with processing speeds more than doubling the iPhone 4S. The current availability of the phone is limited as current ‘pre-orders’ of the phone won’t arrive for 2 to 3 weeks. If you want a chance at grabbing the iPhone 5 on its release, I best suggest you stand in line at the Apple store.

Analyst Peter Misek believes that Apple share pricing will reach a record-breaking $900 by the time 2013 reaches. This will be boosted by product sales of the iPhone, iPod touch, iPad mini, etc.

[via Bloomberg]

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