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iPhone, iPad sales help Apple shares break $500 mark

by Nicole
February 14, 2012 at 9:52 am

The Cupertino tech giant has broken a new record: the company’s shares pushed over $500 within 15 minutes on Monday.

At the end of the day, the stock was worth $502.60, up 1.86% over the closing price on Friday.

Driven in particular by record sales during the Christmas holidays, Apple has shown an increase of 24% since the beginning of the year.

Last month, Apple surpassed ExxonMobil as the most valuable company in the world. Now, the company’s market value is 16% higher than that of Exxon’s.

Apple shares have seen a 40% increase since last February and have gained approximately 500 % in the past five years.

The company is now valued at $ 470 billion, almost as much as Microsoft ($260 billion) and IBM ($230 billion) combined.

The excellent sales of the iPod, iPhone, and iPad have allowed Apple to increase its profit.

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