Apple shares reach record high of US$100.53

20 Aug 201485 Views

Shares of consumer tech giant Apple closed at US$100.53 in the US last night, their highest level ever when adjusted for its June 7-for-1 share split.

The last time Apple’s shares hit a record level, of US$100.30, was in September 2012, The Financial Times reported, the same month the company debuted its iPhone 5 smartphone.

The news site also noted that Apple stock often peaks in the lead-up to a new product launch, only to fall back once the new device goes on sale.

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Apple is expected to release its next iPhone, the so-called iPhone 6, at an event on 9 September.

Apple store image via Shutterstock

Tina Costanza was a journalist and sub-editor at Silicon Republic

editorial@siliconrepublic.com