Apple Reaches $700 as IPhone 5 Shatters Sales Record
This article is for subscribers only.
Apple Inc.’s shares surpassed $700 as record first-day orders for the latest iPhone fueled optimism that the company will keep generating the revenue growth that transformed it from a niche computer manufacturer into the world’s most valuable business.
Shares climbed less than 1 percent to $701.91 at the close in New York, for a market capitalization of about $658 billion. The stock has advanced 73 percent this year.