Money & Politics

March 16, 2012

Apple Stock Rises Up To $600 As New Ipad Launch Draws Closer

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Written by: Ralph King
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Apple iPhone 4 Launches In China

 

Right about now there are thousands if not millions of people all over the world who are lining up for the “new” Ipad. As some die-hard Apple fans started lining up yesterday morning, Apple shares peaked at an astounding $600 per share.

It all started with Apple CEO Tim Cook’s announcement of the latest Ipad on  March 7, Wednesday. Since then, Apple stocks have climbed over 10% in price, reaching an all-time high for the company at $600.01 today. Some analysts are also predicting that the launch of the new Apple device could potentially boost up Apple stocks to $700.

This rapid rise in stock price may be due to the  lack of competition this time, as opposed to the release of the Ipad 2 which was “challenged” by tablets from RIM, HP, and Samsung.  Approximately one year later, RIM and HP have both fallen off the grid and the new Samsung Galaxy Tab 2 which was announced late February barely poses as competition for the new Ipad.

The more impressive feat for Apple is if the $700 prediction is accurate, their stock price would have doubled in less than 6 months – growth that definitely sends a loud message to traders.

The new Ipad launches in Canada on Friday morning – but you probably can’t get your hands on one.



About the Author

Ralph King
Ralph King
Ralph King is one of the two Editor-in-Chiefs of recultured.com. He is a 5th-year Communications student who is passionate about advertising and media studies. His hobbies include obsessing over the NBA and listening to Hip-Hop music. Once in a while, you'll see him strolling the streets with a DSLR.





 
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