Apple’s stock price looks set to hit $500 sooner or later with the company on an almost constant upward swing right now.
The company recently became the first United States company to reach the milestone of a $2 trillion market cap. And things just keep on getting better.
Shares today closed out with an increase of around 4% and these shares are worth more than double what they were back in March. March closed out at around $224 per share and prices have continued to bounce north ever since.
Apple recently announced that it will undergo a four-to-one stock split that will take place on August 31. The move won’t change the company’s overall valuation though, with the value of a single share being multiplied by the number of shares available equating to the market cap.
While Apple has become the first US-based $2 trillion company it’s unlikely to be the last. Amazon, Alphabet, and Microsoft have all been on a surge this year.
Apple’s stock price will only likely increase over the next couple of months with the company set to announce new iPhones, Apple Watches, and iPads. The new legal spat with Epic Games over the inner workings of the App Store likely won’t help matters, though.
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