Apple continues to defy gravity, stock hits $600

[n2doc]

By Angela MoonPosted 2012/03/15 at 10:45 am EDT

NEW YORK, Mar. 15, 2012 (Reuters) — Every couple of weeks it's nice to look back and see just how far Apple has come.

Shares of the iPad and iPhone maker eclipsed the $600 barrier for the first time on Thursday, only about a month after topping the $500 mark for the first time.

Just a day before Apple's new iPad becomes available in stores the stock ticked up to $600.01 at Thursday's open before selling off. The new iPad, at a starting retail price of $499 is cheap compared with one share of stock.

Apple's rally has been stunning - the stock is up 47 percent for the year and nearly 10 percent for the month.

Last month, the company became only the sixth company in U.S. history to top $500 billion in market capitalization, a significant move for a company whose stock traded at $10 about a decade ago. None of the others, which include Exxon Mobil and Microsoft, were able to sustain that market value over time.

http://www.newsdaily.com/stories/bre82e0s9-us-apple-stock-alltimehigh/

bubble?

[dixiegrrrrl]

1. Short that sucker!