Apple shares hit all-time high

September 13, 2012: 6:07 PM ET
Apple shares hit all-time high
Click the chart for more info.
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.

Related: Apple's $30 adapter won't work with old speakers

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.

Join the Conversation
Markets
Sponsored by
Index Last Change % Change
Dow 16,801.05 -3.66 -0.02%
Nasdaq 4,428.07 5.98 0.14%
S&P 500 1,944.98 -1.18 -0.06%
Treasuries 2.42 0.02 0.71%
Data as of 1:34pm ET
Company Price Change % Change
Bank of America Corp... 16.90 0.08 0.45%
Apple Inc 99.39 0.21 0.21%
Facebook Inc 77.29 0.74 0.97%
Ford Motor Co 14.46 -0.13 -0.89%
Intel Corp 33.66 -0.34 -0.99%
Data as of 1:19pm ET