The news of iPhone 6 launch, which is scheduled for next month, has already started bringing cheers for the tech giant Apple Inc.
On Tuesday, Apple’s shares closed at their highest level ever as investors looked optimistic prospects of the new device.
The shares of the company ended up 1.4 percent at USD 100.53 on Tuesday. This is the highest ever closing level when adjusted for 7-for-1 stock split of June. The previous high closing price of Apple was USD 702.10 or USD 100.30, adjusted for the split, which came on September 19, 2012, just two days before iPhone 5 was thrown into the market for sale.
Interestingly, the company’s shares also reached their all-time high in regular trading on Tuesday. Apple’s stock reached its previous intraday high of USD 705.07 or USD 100.72 on September 21, 2012, while it was adjusted for the stock split. Interestingly, the iPhone 5 had hit stores on the same day two years ago. Meanwhile, the shares zoomed as high as USD 100.68 in midday trading on Tuesday.
Notably, the shares of Apple performed worse in the market as they had slid from their high in 2012 on fears that new Apple CEO Tim Cook would fail to spread the magic of co-founder Steve Job, who died in the same year after a prolonged illness.
The smartphone iPhone 6 will contribute to over half of Apple’s total revenue. Meanwhile, the market is also awaiting two widely speculated Apple devices including an iWatch and an iPad, which is losing popularity against lower-cost rivals and smartphones.
Many market analysts are expecting to see release of two new iPhone 6 models with display sizes of 4.7 and 5.5 inches in September this year. But recent reports have suggested that Apple could release one of them at a later date.
Insiders say the tech giant has asked manufacturing partners to produce about 30 percent to 40 percent more iPhones by the year-end. The analysts also expect launch of an iWatch later than the iPhone 6.