Apple shares hit $500

Apple seems to be a company that cannot do any wrong – in terms of its share price, anyways. Apple’s shares have actually touched the $500 mark for the first time today, which is another watershed moment for the technology giant. Of course, it goes without saying that the recent spate of devices that rolled off Cupertino’s production lines have proved to be hit after hit, with the iPhone and iPad being the latest two devices that have boosted Apple’s bottomline tremendously. Heck, even Apple’s bread and butter Macintosh range that is now 28-years old continues to break new sales records.

It was just half a year ago that Apple’s shares passed the $400 mark for the first time, and 16 months after it surpassed the $300 price point. It is amazing that Apple’s stock traded at just $78.20 three years ago. Do you think Apple will continue to surge forward in terms of its share price to catch up with its profits? After all, the stock rose 539% in the past three years, but in contrast, their profits have grown by 711% in the corresponding time period. With the iPad 3′s impending release, the future seems bright.