Apple shares hit $500 for the first time in early morning trading yesterday, taking the market capitalisation of the world’s largest public company to more than $466bn.
Apple’s shares have risen 23 per cent this year after blockbuster fourth-quarter results and record sales of iPhones, iPads and MacBooks. Apple now represents 1.9 per cent of the MSCI World stock market index and 3.8 per cent of the S&P 500.
Since the S&P 500 closed at 1,363.61 points on April 29 last year, its highest level since the financial crisis, Apple shares have climbed 44 per cent against a 1 per cent fall for the S&P 500.
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