Shares of Apple Inc. set new record, more than doubled in 2009

2009-10-22 03:04:28 (GMT) (Caymanmama.com - Technology News)

San Diego, California (CaymanMama.com) — As one of the most popular technological companies on the globe, Apple Inc. has set yet another record for its success as shares for the company soared to a record high on Wednesday.

The reason for such a swift climb is thought to be the impressive sales of the iPhone and Mac computers, as well as the spreading buzz about CEO Steve Jobs’ potential plans to announce new gadgets in 2010.

The Cupertino-based technology giant’s shares rose $8.98, or 4.5 percent, to $207.74, going well past the intraday record of $202.96 set in 2007. The shares have more than doubled this year.

Apple solidified it’s original record after the iPhone grew in popularity, making up for nearly a third of the major revenue for the company.

According to the Contra Costa Times in San Francisco, “Jobs cut iPod prices, added models, ran back-to-school promotions and expanded distribution for the iPhone 3GS last quarter to fuel sales, which topped $9 billion. Investors expect new products next year, including a tablet device.”

Shares of Apple Inc. set new record, more than doubled in 2009

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Shares of Apple Inc. set new record, more than doubled in 2009

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