Apple shares hit all-time high

September 13, 2012: 6:07 PM ET
Apple shares hit all-time high
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NEW YORK (CNNMoney)

Apple shares closed at an all-time high Thursday, a day after the company unveiled the latest edition of its wildly popular iPhone.

Apple (AAPL) shares closed at $682.98 on Thursday, up 2%, after hitting an intra-day high of $685.50. Elsewhere in the tech world, Amazon (AMZN) shares also closed at an all-time high, and Google (GOOG) shares again pushed past the $700 mark, closing up 2.2% at $706.04.

It was a strong day for U.S. stocks in general following the Federal Reserve's announcement that it was launching a new round of quantitative easing. Apple, though, appears particularly well-positioned to sustain its momentum over the next few months as the iPhone 5 hits stores.

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Industry analysts are already predicting that the device will be the best-selling smartphone of all time. The stock also remains relatively cheap, trading at about 13 times what investors expect Apple to earn in its 2013 fiscal year.

See Apple's iPhone 5 event in 90 seconds

Apple shares have climbed more than 66% so far this year. Contrast that to some of the firm's competitors in hardware like Hewlett-Packard (HPQ) and Dell (DELL), which have fallen 31% and 29%, respectively, in 2012.

Markets
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Index Last Change % Change
Dow 17,643.80 286.93 1.65%
Nasdaq 4,718.26 73.95 1.59%
S&P 500 2,045.31 32.42 1.61%
Treasuries 2.21 0.06 2.84%
Data as of 12:45pm ET
Company Price Change % Change
Bank of America Corp... 17.40 0.13 0.78%
Apple Inc 111.25 1.84 1.68%
Oracle Corp 44.54 3.39 8.22%
General Electric Co 24.94 0.50 2.07%
Halliburton Co 39.10 -0.34 -0.86%
Data as of 12:29pm ET