Today has been a pretty big day for those who currently own Apple stock. The Cupertino-based company announced this morning on a conference call with CEO Tim Cook and CFO Peter Oppenheimer that it will be issuing divdends and stock buybacks.
The stock market is liking Apple’s announcement. While it hit $600 per share four days ago, Apple’s stock has just closed at over $600 for the first time..
Apple currently holds the title as the world’s most valuable company, beating out Oil giant Exxon by huge numbers. Apple has seen nothing but growth, moving up 200 points since November. Coming off a monstrous holiday quarter and launching its new tablet, Apple continues to explode.
Many critics and analysts expected Apple’s stock to drop off after the death of the late Steve Jobs, however, that’s not the case. It’s been only about 30 days since Apple crossed the $500 per share mark.
Some analysts believe by the end of the year, Apple could reach $700 a share. Fast forward a year from now, some even believe it could hit $1,000 — wow. At $1,000 per share, Apple would be worth a whopping trillion dollars.
Apple’s growth doesn’t look close to slowing down.