New iPad hits shelves, Apple shares hit new peak
With the new iPad going on sale in 10 countries today (though not, regrettably, in New Zealand) shares in Apple have hit a new peak, trading at just over US$600 for a short time before settling at around US$585.
It’s been a sharp rise since the new iPad was introduced just over a week ago, when the price was around US$530.
In the context of the last three months, though, it’s only a continuation of the upward trend. On December 15, the price was US$378.94 – that’s well over 50% growth in just 12 weeks, and will surely be causing sleepless nights for anyone who sold their shares after the death of Apple founder and figurehead Steve Jobs in October.
Although early reviews of the new iPad haven’t pinpointed it as a must-have device, most say the retina display will definitely appeal to aficionados, which should ensure first-day sales are sufficiently impressive. If that’s the case, there’s no reason to think Apple’s share price can’t rise even higher.
Image: Yahoo! Finance.