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Apple closes at record high with nearly $700B market cap

Update: Apple crosses $700B market cap…

Apple’s stock today closed at a record high of $118.62 per share (post 7-1 split) with a market cap of nearly $700 billion at $695.7 billion.

Earlier this month, Apple reached its highest market capitalization in history reaching two-thirds of $1 trillion; the company’s stock has continued to climb as it prepares to debut the Apple Watch next spring and enters the holiday quarter.

Over the weekend, KGI Research analyst Ming-Chi Kuo released his forecast note predicting 71.5 million iPhone sales during the 2014 holiday quarter with 21.5 million iPads predicted to ship during the same quarter.

Kuo’s forecast follows Apple’s most recent quarter in which it reported sales of 39 million iPhones, 12.3 million iPads, and 5.5 million Macs with $42.1 billion in revenue and $8.5 billion in profit reported.

Apple has previously provided a guidance of revenue between $63.5 billion and $66.5 billion for its next quarter.

Update 11/25: Another day, another record. After closing just shy of $700 billion yesterday, Apple quickly crossed that threshold this morning as it inches closer toward $1 trillion market capitalization.

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Comments

  1. Christopher Veira - 9 years ago

    Apple uses keynote addresses to trick people into thinking that the iPad was not going to be updated this year and when many people went and spent hard earned $$$$ upgrading there iPads and purchasing accessories for them then weeks later after the 14 day return policy ran out Apple had another Keynote address to announce that they completely redesigned the iPad 40% faster with touch ID and many more features.

    Apple practices smoke and mirror predatory tactics to trick people who wait for the keynote address to see if new products or updates are instore then when they buy the existing products they think aren’t going to be updated because they were not mentioned in the keynote address they get screwed when Apple comes out from under the radar and surprises them and they get stuck with the older product that they were tricked into purchasing and can not return.

    Shame on Apple’s leadership.

    Christopher I. Veira.
    Deceived by Apple.

    • Christopher, you’re talking out of your ass. Sell your Apple devices if you don’t want them. Better yet, buy some Apple stock and take pride when they release new products that do well.

      • Christopher Veira - 9 years ago

        You are missing the point I do like Apple products bot I do not like to be deceived. I do own Apple stock and unlike what I can see of you from you’re post is that you do not poses the intellect needed to comprehend the context of my post, and that you’re vocabulary is very limited

    • dreamtiger - 9 years ago

      Why don’t you have some cheese with your whine?

    • Steve Clingan - 9 years ago

      Because Apple can’t fix stupid. People should know what they are buying, before they buy it. If they buy an iPad 2, Guess what? they get an iPad 2. Their iPad 2 will not cease to function once a new version comes out. Got tricked buying an older model? I think not, they got what they paid for….

      • Christopher Veira - 9 years ago

        I can see apple can’t fix stupid from you’re comment!

      • DubDJ - 9 years ago

        *Your

    • kevicosuave - 9 years ago

      I’m having a hard time trying to understand what keynote you’re talking about. I’m thinking you’re referring to the iPhone/Watch event in September. There was no keynote, it was a presentation to the press.

      During the presentation there was no mention of new iPads being released, or for that matter not being released.

      However, almost every website covering Apple posted rumors and speculation that new iPads would be released before the end of the year.

      Considering Apple’s product timeline, I don’t see how anyone paying attention would’ve been surprised that new iPads with Touch ID were going to be released by the end of the year.

      Apparently though, that’s you.

    • virtualstorm - 9 years ago

      Christopher,

      You need to know the difference between “your” and “you’re”. Specially if you want to call other people stupid!

    • Mosha - 9 years ago

      Christopher, you’re the epitome of stupid and deserve to be up there with the likes of herb derp. Why? Well I’ll tell you….

      The iPad since 2010 and the iPhone since 2007, the two most popular iOS devices, get updated every single year. EVERY SINGLE YEAR. So the fact that you even thought before the year was out, that Apple weren’t going to iPad, makes you an ignorant fool and a moron.

      Shame on Christopher for being an idiot.
      Not Deceived by Apple, only his ignorance.

      • Christopher Veira - 9 years ago

        I can see how inferior you are, I have you going out of whats left if anything is left of your mind.

        Stop smoking CRACK man.

  2. Taste_of_Apple - 9 years ago

    Big change from last year.

  3. Laughing_Boy48 - 9 years ago

    There isn’t one company in the world that doesn’t use some sort of marketing deception to get people to buy products. That’s the name of the game. However, plenty of Apple products have won awards for being the best around and Apple is well-known for having loyal customers who come back time and time again. Consumers who feel they’ve been cheated by a company usually don’t come back. Apple can’t give away advance notice of products because of copy-cat companies are always waiting to pounce. I have bought products from other companies who released new products and didn’t necessarily give a month’s advance notice. You simply have to wait it out until the new product is released if you can but if you need something right away, then that’s just tough luck. Since I’m a long-term Apple shareholder, I suppose their marketing methods aren’t totally transparent but I certainly don’t feel they’re worse than any other company. They’re making me plenty of money and I can buy their products whenever I want.

    To those who don’t like Apple’s methods, they should dump their Apple products and move on to some other company to see if it doesn’t turn out exactly the same. My experiences have always been good with Apple since my first 1984 Mac 128 and I see no reason to change at this point after all those years of satisfaction.

    • Christopher Veira - 9 years ago

      I appreciate you’re thoughtfull comment and I really like apple products and I also like you am a long time loyal Apple consummer and shareholder, and I also like the service they have given me in the past. The iPad issue is not the only problem that happened, at about the same time my iCloud account crashed and all my documents, emails and email service, all my valuable pictures as I am a photographer and also have 2 businesses attached to my account and much more happened. All this has cost me dearly and the people that work for apple were very kind and understanding to my plight bot unable to figure out what to do about the issue. After I spent 6-10 hours a day being handed off from person to person who really tryed their best to help me bot just couldn’t for 12 days either at the Apple store on 5th ave NYC.

      Thousands of dollars in losses later a senior adviser pretty much told me that apple is not responsible and dos not intend to replace any software that was completely lost do to the crash of my apple iCloud account and promptly hung up on me. All this has reaked havoc physically and financially for the last month and I am very surprised at the way Apple handled this hole matter because of their legendary high quality service track record. I am still and will probably will always be an apple products lover and consumer bot I really feel that Apple really fell short on this one.

      Again thank you for you’re repply and youre time,
      Christopher.

      • Christopher Veira - 9 years ago

        Thank you for your response I will get back to you soon I am just watching the verdict of Ferguson.

        Thank you,
        Chris.

      • Steve Clingan - 9 years ago

        You should consider a local backup of all your important data. Especially if you have a business that depends on it.

  4. Laughing_Boy48 - 9 years ago

    I’m fairly certain there was a pundit on CNBC who said Apple is going through critical times and the share price was likely to go down to $80 a share. Next quarter, Apple may only sell about 50 million iPhones which will be a huge decline from the 70 million iPhones in this quarter. Sell Apple, now.

Author

Avatar for Zac Hall Zac Hall

Zac covers Apple news, hosts the 9to5Mac Happy Hour podcast, and created SpaceExplored.com.