It seems investors took a real shine to shares of Apple today, seeing it close above $600 for the first time in its history.
Shares of Apple ended the day up 2.65%, or $15.53, to close at $601.10. This is the first time shares of the Cupertino-based company have closed out the day beyond that benchmark, and it brings it market cap value to $560.45 billion.
Apple had a double dip of good news today to keep the stock pushing upwards with the announcement of a dividend and share buyback program, along with announcing that it has already sold over three million of the new iPad.
It’s hard to say why this stock has gone to these insane levels like it has. Looking at a three month graph, the share price has jumped 53.21% and shows no real signs of slowing any time soon. Just about every analyst has upped their target price to well above $700, so it’s easy to imagine that this trend will continue for some time to come.