Apple shares approach US$500 mark

Apple has taken the upper hand in the battle to be the world’s most valuable company, with interest in the rumoured iPad 3 pushing its stock price close to the US$500 mark.

Shares closed at US$493.17 yesterday, a 3.46% rise from the day before. The growth has been steady for months now, including a spike a few weeks ago when the company announced record quarterly earnings.

The rumour mill has been turning in the last day or so following a report by All Things Digital saying Apple is planning to launch a next-generation iPad in the first week of March.

Reports have followed making predictions about processor speed and screen size and resolution, although it’s not even known if the device will be called the iPad 3, the iPad 2S, like the iPhone 4S launched last October, or something completely different.

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