Apple Inc.’s share price record high as investors eye new releases

Apple Inc. shares closed at an all-time high on Tuesday, pricing the worlds most valuable company at some $600 billion, as markets expect the release of new products set to push the companys revenue growth, and stock, even higher.

Tuesdays close of $100.53 beat the previous, September 19 2012, record of $100.30.

Analysts commented that the surge of the companys shares is a sign of the support and approval for CEO Tim Cook and his actions. Cook took the helm in 2011, following the untimely death the of guru-like figure of former CEO Steve Jobs.

Later this year a number of new releases are expected. Some analysts project record sales for the new iPhone, while the wrist-worn device was said to sell as much as 60 million units in the year after its debut.

Apples stock rose more than seven times under the guidance of Jobs in the period after the release of Apples flagship smartphone in 2007. Then, in 2013, the companys stock lost one third of its value, after its iPhone 5 was released and analysts shared concerns that Apple was exhausted of fresh product ideas.

“A big push by US operators for the new iPhone next month and the anticipation of new products should further propel Apple’s stock,” Walter Piecyk, analyst at BTIG Research, commented for the Financial Times, addressing the new record share price.

The stock rally follows consecutive strong quarterly results. The company also carried out a 7-for-1 stock split, multiplying the number of shares, while devaluing them, in a bid to attract a wider range of investors.

Apple Inc. was 1.38% up to close at $100.53 per share yesterday, marking a one-year change of +38.60% and valuing the company at $593.76bn. According to CNN Money, 44 analysts offering 12-month price forecasts for Apple Inc. have a median target of $106.00, with a high estimate of $135.00 and a low estimate of $51.43. The median estimate represents a +5.44% increase from the last price of $100.53.