Apple Shares Hit $700 for First Time

Company now worth $656B

By Newser Editors and Wire Services

Posted Sep 18, 2012 12:01 PM CDT

(Newser) – Apple's stock has reached $700 for the first time, once again setting a record for the company the day after it announced that orders for its iPhone 5 topped 2 million in the first 24 hours. The shares hit as high as $701.44 in morning trading today, up a quarter of a percent from yesterday's close, but later fell. The rally in its stock price puts Apple's value at $656 billion, more than any public company has ever been worth, if one ignores inflation.

Apple CEO Tim Cook speaks in front of an image of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012.
Apple CEO Tim Cook speaks in front of an image of the iPhone 5 during an Apple event in San Francisco, Wednesday, Sept. 12, 2012.   (AP Photo/Jeff Chiu)
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