Tim Cook at D10 (image 005)

Investors are liking Apple’s direction lately, pushing the stock to $600 per share for the first time since 2012. Shares of AAPL closed at $600.96 each on Monday, a nice hike up from the under $400 price the stock was sitting at in April 2013.

Apple’s shares were up more than $8 for the day to reach the 52 week high, bringing the Cupertino-based company’s market capitalization to a hefty $517.65 billion.

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It’s not new products that have pushed Apple’s stock higher – we haven’t seen the promised new product category yet – but rather continued successful quarterly performance, an increased stock buyback, and a 7-for-1 stock split that is set to take place in June.

“We’re confident in Apple’s future and see tremendous value in Apple’s stock, so we’re continuing to allocate the majority of our program to share repurchases,” Tim Cook, CEO of Apple, said in April on the company’s latest earnings call. “We’re also happy to be increasing our dividend for the second time in less than two years.”

The increased buyback was announced in April, when Apple detailed it has raised its share repurchase authorization to $90 billion from the $60 billion level announced last year. Apple expects to utilize a total of over $130 billion of cash under the expanded program by the end of calendar 2015.

The seven-for-one stock split also impressed investors, as each Apple shareholder of record at the close of business on June 2, 2014 will receive six additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on June 9.

Apple’s all-time high was reached in September 2012 when shares crossed $700 for a short period, before tumbling back down.

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  • Jeffrey

    holy shit i just noticed by googling aapl, i’m so proud of them!:) their top was 700.1 and they slowly fell back to 390 dollars, and now they got back all the way up to 600 again! wow! respect!

    • Guest

      Actually I think I saw their top being around 750 before it went down

      • Jeffrey

        no it really was 700.10, google aapl and you’ll see a chart which shows the top being 700.10…

  • n0ahcruz3

    As i said before now is the time to buy apple stock then sell it before iphone 6 announcement

    • felixtaf

      The time to buy was when it was 400$. U cud have got 200$/share even now…

      • n0ahcruz3

        Yes i said this when they were trading at 400.

  • Kash Gummaraju

    Meanwhile Google is laughing at Apple with their $1000+ stock that keeps rising and dropping while still in the above 1000 dollar range.

    • Rowan09

      Google did a stock split so it’s no longer $1000.

      • Kash Gummaraju

        what no, why, omg, no, how 🙁