Apple Inc. (AAPL) stock earlier today surpassed the $500 billion mark in market capitalization. This major milestone for AAPL came in after-hours trading yesterday and now has passed it in regular trading as the day opened for trading.
The stock price of the Cupertino, Calif. based company has already seen 13% increase with 50-point gain during the first month of this year. At the time of writing AAPL has crossed $544.02 mark that is $8.69 up or 1.62% with market capitalization of $506.81 billion.
On Tuesday, when Apple sent out official media invites for the iPad 3 keynote event the stock price rose significantly and continues to show upward trend. It’s interesting to note that in 2008 after the MacWorld conference Apple’s stock price suffered loss due to disappointment regarding the products announced.
The company recently reported the best quarter ever, posting earning of $13.06 billion on sales of 36 million iPhones, 15 million iPads and 5.2 million Macs. Since, third-gen iPad was expected around March and Apple has followed the pattern it set with the introduction of iPad 1 and iPad 2 investors have responded favorably as they expect iPad 3 to be another blockbuster success for Apple.
iPad 3 keynote event on March 7th will finally unveil Apple’s third generation tablet. It is widely expected to feature high resolution retina display, better camera and a faster processor with improved graphics. According to few reports we’ve highlighted recently it is believed that iPad 3 will have a slightly thicker back panel in order to accommodate a larger camera and other hardware enhancements.
With a market capitalization of more than half-trillion dollars Apple is way ahead of Exxon Mobile which was previously the world’s most valued company in terms of market cap.
Will Apple be able to once again break all sales records for the iPad? Let us know your thoughts in the comments below.