Today the market’s most valuable stock upped its price—and it didn’t even have to do it with a fancy product rollout!
Granted, the new iPad probably had something to do with Apple’s stock price boost, which broke another record by hitting $600 per share this week before falling again during Wall Street trading. Just a month ago, the company cracked $500 per share for the first time.
For some the skyrocketing price maybe a little spooky. The only two other companies to beat Apple’s current $559 billion valuation are General Electric and Microsoft, which reached their highest points during the dot-com bubble over a decade ago.
But analysts say the tech giant’s sales numbers and projections back up the price. Last quarter the company posted $13 billion in sales—one of the most profitable quarters ever for a U.S. company. With a price near that of a new iPad itself, that’s a stock you might want to buy instead of a gadget—it might be a better investment.
TODAY IN SLATE
I was hit by a teacher in an East Texas public school. It taught me nothing.
Chief Justice John Roberts Says $1,000 Can’t Buy Influence in Congress. Looks Like He’s Wrong.
After This Merger, One Company Could Control One-Third of the Planet's Beer Sales
Hidden Messages in Corporate Logos
If You’re Outraged by the NFL, Follow This Satirical Blowhard on Twitter
Giving Up on Goodell
How the NFL lost the trust of its most loyal reporters.