Apple Stock Hits $100 per Share for First Time Since Stock Split
Apple's stock shares crossed over the $100 mark for the first time since the stock completed a seven-for-one stock split back in July. Tuesday, the stock hit $100.57, an all-time split-adjusted high.
Calculating this price and adjusting it for the seven-for-one split, this is an all-time high. The last time the stock got this high was back in September 2012, when the stock hit $702.10. That's lower than the $703.99 split-adjusted equivalent price that Apple closed at on Tuesday.
An Apple iPhone 5 was announced in September 2012 and, coincidentally, that was when shares peaked for Apple. Now, a new iPhone is widely expected this September and investors are banking on that and holding onto shares of Apple.
This time, it could be different for Apple. Back in 2012, the introduction of the iPhone 5 wasn't all that exciting for investors. Google's Android phones were coming out with their bigger screen size phones and starting to gain more marketshare in the smartphone category.
The stock peaked in September 2012, but then steadily fell 40 percent before rising again starting in April 2013. It's been on the rise ever since.
Finally, it appears that Apple is going to follow suit and introduce a bigger screen phone as well, perhaps two of them.
In addition, Apple is expected to debut a smartwatch as well. These new product expectations are keeping investors happy and preventing them from dumping their shares.
Compared to Google's last 10 years of performance, Apple is up 4,419 percent. Google is up 1,294 percent in that same time period.
To make numbers a little easier, if you invested $10,000 in Apple 10 years ago, the stock would be worth $456,347.03 as of Monday's close.
What do you think about Apple's future? Will the stock continue to rise with the new iPhones and watches rumored to be released this fall? Leave us a comment below in the comments section and let us know.
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