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.

Markets
Sponsored by
Index Last Change % Change
Dow 16,580.13 180.46 1.10%
Nasdaq 4,411.80 95.73 2.22%
S&P 500 1,937.40 33.39 1.75%
Treasuries 2.21 0.02 1.15%
Data as of 3:06pm ET
Company Price Change % Change
Apple Inc 102.27 2.51 2.52%
Bank of America Corp... 16.58 0.31 1.94%
The Coca-Cola Co 40.51 -2.78 -6.42%
Regions Financial Co... 9.28 0.12 1.26%
Micron Technology In... 30.90 1.21 4.09%
Data as of 2:52pm ET