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.