Apple stock tops $600 day before new iPad release

Mar 15, 2012
Apple shares briefly topped $600 in early trading on Wall Street on Thursday, a day ahead of the launch of the next-generation iPad.

Apple Inc.'s stock touched $600 for the first time, the day before the company's latest iPad goes on sale.

The stock reached $600.01 just after the market opened and was up $3.76 at $593.34 after the half-hour of trading.

Apple is the world's most valuable company, with a of nearly $555 billion. It topped $500 billion for the first time in late February, a market value peak where few companies have ventured.

Anticipation is high for Apple's latest creation. Some industry experts believe the Cupertino, Calif., company could sell 1 million of the new on Friday, when it becomes available to the public. Apple has already stopped taking advance orders for Friday and said customers should expect a two- to three-week wait for purchases made through its online store.

There were 15.4 million iPads shipped in Apple's most recent quarter, which included the critical . That amount was more than double its iPad sales the year before.

The updated iPad will not have a new name. Upgrades include a sharper screen, driven by a faster processing chip that acts as the "brains" of the device. The new features will make the slightly thicker and heavier than the iPad 2, because it needs a larger battery to power the high-resolution screen.

Prices aren't changing from the previous models. They will start at $499. Versions capable of accessing will cost $629 to $829.

The new iPad will go on sale Friday in the U.S., Canada and 10 other countries. It will go on sale in 25 more countries next week.

Explore further: Nokia turnaround since handset unit sale continues

1.8 /5 (5 votes)
add to favorites email to friend print save as pdf

Related Stories

25 countries to get iPad a week after US launch

Mar 15, 2012

After the new iPad goes on sale Friday in the U.S. and nine other countries, Apple will make the tablet computer available in 25 additional countries a week later, mostly in Europe.

IPad 2 sales start with pre-dawn online orders

Mar 11, 2011

(AP) -- Apple Inc.'s updated version of its iPad tablet computer will be available in stores Friday afternoon. But those who can't wait to say they own the gadget were able to beat the crowds by ordering ...

Recommended for you

Nokia turnaround since handset unit sale continues

32 minutes ago

Nokia appears to have turned around its fortunes after the sale of its ailing cellphone unit to Microsoft, reporting a third-quarter net profit of 747 million euros ($950 million), from a loss of 91 million euros a year earlier. ...

Yahoo CEO defends strategy in face of criticism

33 minutes ago

Signaling her reign has reached a pivotal juncture, Yahoo CEO Marissa Mayer is trying to convince restless shareholders that the long-struggling Internet company is heading in the right direction.

Sk Hynix logs all-time high Q3 earnings

48 minutes ago

SK Hynix, the world's second-largest memory chip maker, reported Thursday a record high quarterly net profit for the three months to September on strong sales and currency earnings.

User comments : 0