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Money Aug 18, 2012

Apple m-cap crosses $600 bn mark

New York: Shares of Apple Inc on Friday rose around one percent on the US bourse pushing the iPhone maker's market capitalisation to $603 billion.

In the first hour of trading, the scrip of the technology giant surged as much as 1.01 percent to $642 apiece on Nasdaq. During the intra-day, it touched a record high of $644.13.

Reuters

The sharp rise in the company's share price pushed its market capitalisation to $603 billion.
The Apple counter surged on reports that it would launch iPhone 5 in early September and analysts are predicting that this handset would be the biggest launch in history.

The growth in Apple's stock had been slightly weaker for the past month in the run-up to weaker-than-expected earnings for the third quarter, said analysts.

PTI


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