Apple hits $644 a share

Stat of the day: $600bn. Fancy pocketing Apple? You'll have to have very deep pockets. The world's most valuable company is now worth $600bn.

by Rebecca Burn-Callander
Last Updated: 09 Oct 2013

Yesterday saw the technology giant's share price soar to $644 per share. That's £405 to us Brits. It's an exciting development for the company, given that Apple only passed the £500bn mark in February. The stock's value has increased by whopping 60% since the start of this year. 

The only other company to have ever hit this illustrious $600bn valuation mark is Microsoft at the height of the dotcom bubble in 1999. Today, it's worth under half of that at $260bn. Could the same thing happen to Apple?

Well, at present, Apple's star in still in the ascension. It has $65bn in cash stowed in the coffers and is issuing its first dividend. A report from Gartner, out today, claims that Apple will remain the premier tablet maker for the next four years. And rival firm Sony has just reported a £4bn loss. Not a bad week for new boss Tim Cook.

But it's worth noting that the $644 dollar peak only held out for a short while yesterday. It is now back down to $628 on the Nasdaq (as of 10.30am GMT). But it won't stay down for long. MT would bet its bottom dollar that within the next three months we'll see a $700bn valuation. After that, it's anyone's guess. Perhaps Apple will disprove the old adage: 'What goes up must come down.' An anti-gravity Apple, if you will.

Newton will be turning in his grave...

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