Apple shares surpassed the $300 mark for the first time on Wednesday after investors expressed satisfaction with the excellent prospects of the new iPad tablet and the company’s planned expansion in China.
The Silicon Valley consumer electronics giant is now valued at over $275 billion, with its value increasing by 43 percent this year alone. In December 2003, its shares were trading at just $10. Their value jumped on Wednesday ahead of the quarterly business report scheduled for Monday, which will reflect the surge in iPad and new iPhone sales.
Although numerous companies are now entering the tablet market, Apple’s pioneering device still holds a dominant position. In the first quarter alone, Apple sold three million devices, which the company declared the best customer response to a new electronic device in history. Apple is also reportedly planning to open 25 new stores in China, which will likely strengthen its position in the potentially largest market in the world. (H)
