When the markets closed yesterday afternoon, Apple stock was worth $636.34, making it the best day Apple has ever had on the exchange. Their previous record closing value was just eleven cents lower, closing at $636.23 on April 9 of this year. The stock has seen incredible growth this year, tripling the NASDAQ growth average.
Yesterday’s surge in stock prices is likely due to anticipation for the new iPhone and iPad Mini, which are both expected to be out this September. The huge sales of those devices is sure to give Apple a substantial earning bump, and investors are getting in early right now in the hopes of riding those releases upwards to an even higher Apple stock price.
Apple actually paid out a dividend to shareholders, too, giving them $2.65 per share. It’s the first time Apple has paid dividends in well over a decade; the last payout was in December of 1995. Usually, Apple just rolls this money back into their own operations. It’s unclear why they’ve decided to pay dividends at this time – maybe they have more money than they know what to do with.