Apple stock reaches new high

Apple stock reaches new high

Apple’s stock has touched a new high, reflecting investors’ renewed faith in CEO Tim Cook’s ability to outwit the competition and expand the technological hit factory built by the late Steve Jobs.

The milestone represents a dramatic turnaround in sentiment since Apple’s shares reached its previous split-adjusted peak of 100.72 dollars ) in September 2012.

After peaking at 100.77 dollars this morning, shares slipped three cents to 100.50 dollars , giving Apple a market value of 602 billion dollars – more by far than any other publicly held company.

Apple’s stock had fallen to a split-adjusted 55.01 dollars in April 2013 to wipe out about 300 billion dollars in shareholder wealth amid worries that the company, based in Cupertino, California, had run out of ideas without Mr Jobs as its mastermind.

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