Apple’s stock has peaked at over $575 for the first time since a decline that started at the beginning of 2013. The upward trend seems likely to continue.
" />

Apple stock hits 52-week high, company looks to end 2013 on bright note


After peaking in September of 2012, Apple’s stock experienced a steady decline throughout the first half of 2013, bottoming out in April at under $400. Today, shareholders got a bit of good news as Apple’s stock cracked $575, reaching a 52-week high.

The price has since dropped off a few dollars, but the positive swing continues a positive upward trend that began in June of this year and has followed new product launches into the Black Friday weekend. The holiday season should continue to buoy Apple stock price into 2014 as shoppers seek out devices like the iPad Air and mini as well as the iPhone 5S.

Another likely contributor to the rise in price is the machinations of investor Carl Icahn, holder of $2.5 billion in Apple stock. Icahn has been rallying for Apple to increase its stock buyback plan by $50 billion, and just yesterday made it known that he was filing to include current shareholders in a vote on the matter.

As it stands, Apple might be a bit pricey for the new investor, but those who bought in early look to be sitting pretty. A relatively low-key 2013 is expected to give way to a busier 2014 with reports of multiple iPad and iPhone releases planned throughout the year.

[via MacRumors]

Continue reading: