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Apple stocks hit year high following iPad Air release

Apple stock today reached its highest price since January, following the release of the company’s latest smartphone and tablet offerings.

Showing renewed investor faith in the Cupertino-based company, Apple shares closed yesterday at a peak of $533.40 (£327.92), an overnight rise of 2 per cent, or $10.96 (£6.74) per share. The rise follows the recent release of the iPhone 5S and colourful iPhone 5C, as well as the introduction of the iPad Air and iPad mini 2.

Though the stock managed a high of $550 (£337.92) in January, it subsequently dived, plummeting to below $400 (£245.91) in April, coercing the US based giant into introducing its $100 billion share buyback scheme.

Despite what the company’s CEO Tim Cook called “frustrating” stock difficulties, Apple has kept its position as the most valuable company by market gap, currently stable at a worth of $490 billion (£301bn).

With analysts predicting Apple will ship over 23 million iPads during the festive season, these forecasts have seemingly encouraged an improved share performance.

Christmas shoppers can pick up the 16GB version of the iPad Air with Retina display for around £400, whilst the 16GB iPad mini 2 is available for £250.

Formally unveiled back in October, the iPad Air and iPad mini 2 were made available for purchase earlier this month. While the iPad Air has been in strong supply, the iPod maker has struggled to meet demand for the second-generation 7-inch tablet.

Read More: iPhone 6 rumours

Via: MarketWatch

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