Apple Shares Top $500 as New Products Seen Bolstering Growth
This article is for subscribers only.
Apple Inc. topped $500 for the first time since January, a day after activist investor Carl Icahn disclosed a stake in the world’s largest technology company, and amid optimism that new iPhones and iPads can bolster growth.
The shares rose 2.3 percent to $501 at 12:07 p.m. in New York, for the biggest intraday gain since Jan. 23. Apple had declined 8 percent this year through yesterday, compared with a 19 percent gain for the Standard & Poor’s 500 Index.