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Old Aug 19, 2014, 10:57 AM   #1
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Apple's Share Price Hits $100 for the First Time Since June Stock Split




Apple today saw its stock hit the $100 mark for the first time since its seven-for-one split that took place in early June. Following the split, Apple was trading at roughly $92 a share, but since that time the stock has trended upward until hitting the $100 mark today.

The company is also very close to an all-time high stock price, accounting for the stock split. Apple's all-time intraday high was set on September 21, 2012 at $100.72 ($705.07 on a pre-split basis), and the all-time high closing price was set just a few days earlier on September 19 at $100.30 ($702.10 pre-split).

Even as Apple sits at almost record high share prices, the company is not ready to set a new high for overall market capitalization, which is calculated as the share price multiplied by the number of shares available. That is due to Apple's aggressive stock buyback program that has seen the company reduce its share count by almost 600 million over the past two years.

The move is intended to boost value to investors by reducing share supplies while also putting to use some of Apple's vast cash holdings. Much of the share repurchase program is, however, being financed by low-interest debt, as the majority of Apple's cash is currently held overseas, and it would be considerably more expensive for Apple to pay required taxes on that cash to bring it home for domestic uses than to simply pay for the repurchase program out of its ongoing domestic earnings over time where tax is already being paid.

The repurchase program has also signaled to investors that Apple has believed its stock to be undervalued, demonstrating the company sees purchasing its own stock as a better use of cash than other investment opportunities. And finally, reducing share counts also eliminates future dividend payments that would have been made on those now-retired shares, providing an additional financial benefit to the company.

Update 1PM PT: Apple's stock price closed at an all-time high of $100.53, breaking its previous closing high of $100.30 ($702.10 pre-split) set on September 19, 2012.

Article Link: Apple's Share Price Hits $100 for the First Time Since June Stock Split
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Old Aug 19, 2014, 11:00 AM   #2
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Can't wait to see where the price goes after the iPhone 6 launch weekend.
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Old Aug 19, 2014, 11:03 AM   #3
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GTAT is also chugging along...
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Old Aug 19, 2014, 11:03 AM   #4
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Normally I don't look at stock tickers but I just happened to be in my portfolio when the ticker for AAPL bumped to $100.00. It's been running between $99.97 and $100.00 for the last fifteen minutes or so without ever getting to $100.01. Okay, so this is an excellent reason for NOT looking at stock tickers.
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Old Aug 19, 2014, 11:03 AM   #5
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I guess Tim does know what he is doing
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Old Aug 19, 2014, 11:05 AM   #6
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September thru December is gonna be great for Apple, just hope it's great for AAPL too.
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Old Aug 19, 2014, 11:06 AM   #7
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there we go aapl daddy needs a new jet ski
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Old Aug 19, 2014, 11:12 AM   #8
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Yay for me since I bought at split. Woulda been real excited if I got it when it was in the low 400s :/
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Old Aug 19, 2014, 11:12 AM   #9
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Why do I get the feeling this is a run up to an eventual sell off when the new iPhone is announced. The old buy on the rumor sell on the news.
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Old Aug 19, 2014, 11:13 AM   #10
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Share buybacks influence the all-time high...

This article argues the all-time high for apple is higher than we think due to the large number of shares in Apple's buyback program.

http://seekingalpha.com/article/2405...than-you-think
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Old Aug 19, 2014, 11:15 AM   #11
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Old Aug 19, 2014, 11:19 AM   #12
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Damn, just sold few hundred share a month ago.
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Old Aug 19, 2014, 11:19 AM   #13
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Why is this news?

Also, sold at 100.
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Old Aug 19, 2014, 11:23 AM   #14
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Quote:
Originally Posted by Rogifan View Post
Why do I get the feeling this is a run up to an eventual sell off when the new iPhone is announced. The old buy on the rumor sell on the news.
This old saw never fails to amuse. So, under this scenario, what is the rumor, and what is the news?
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Old Aug 19, 2014, 11:24 AM   #15
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Must be that best product pipeline in 25 years.
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Old Aug 19, 2014, 11:27 AM   #16
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Quote:
Originally Posted by dlewis23 View Post
Can't wait to see where the price goes after the iPhone 6 launch weekend.
The iPhone 6 launch is already priced in to today's selling price, so the announcement probably won't budge the stock price much (just as previous iphone announcements didn't affect stock price very much). Just look at the history. The stock prices after the first couple weeks of past Septembers were sometimes up a little, sometimes down a little. No real pattern and no drastic movements either way.
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Old Aug 19, 2014, 11:29 AM   #17
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Originally Posted by MacSince1990 View Post
Why is this news?

Also, sold at 100.
Because its back up $700 (pre split price) and getting close to its all time high.
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Old Aug 19, 2014, 11:32 AM   #18
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Originally Posted by IJ Reilly View Post
This old saw never fails to amuse. So, under this scenario, what is the rumor, and what is the news?
Rumor? Everything we're hearing about iPhone and "iWatch". Let's say there aren't two new phones and no sapphire display. Let's say all we get is 4.7" model with improved camera and Touch ID. And no wearable yet. I could see the stock selling off on that.
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Old Aug 19, 2014, 11:32 AM   #19
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Originally Posted by sransari View Post
The iPhone 6 launch is already priced in to today's selling price, so the announcement probably won't budge the stock price much (just as previous iphone announcements didn't affect stock price very much). Just look at the history. The stock prices after the first couple weeks of past Septembers were sometimes up a little, sometimes down a little. No real pattern and no drastic movements either way.
Exactly. The iPhone 6 is hardly a mere rumor at this point. Sales are already being modeled into Apple's earnings, though that would be mainly for Q1 2015.
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Old Aug 19, 2014, 11:32 AM   #20
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Who took that screenshot on a Windows PC?!
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Old Aug 19, 2014, 11:33 AM   #21
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This kinda thing always happen in august - September when apple would surely introduce new iPhone. Great to see apple stock rise again.
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Old Aug 19, 2014, 11:33 AM   #22
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AAPL keeps beating the Dow and S&P which is a gr8 sign of a quality stock, but AAPL is just as vulnerable as other stocks in the major indexes. So be weary of an impending market correction, as the overall market bubble has to deflate sometime (probably not till the dow is at 18k or so, although obviously nobody can time it precisely).
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Old Aug 19, 2014, 11:33 AM   #23
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Originally Posted by dlewis23 View Post
Can't wait to see where the price goes after the iPhone 6 launch weekend.
It will go down. People are pumping this stock to get it as high as possible so they can short it just before the launch. Even if the iPhone 6 is an excellent product and the launch goes smoothly, you will see lots of negative articles and the price will go down.
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Old Aug 19, 2014, 11:33 AM   #24
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Wrong.

Apple bought back billions of dollars worth of stock since Sep 12. Hence, the all-time high is closer to $110 with the shrinking outstanding share number, not $100. I don't know why the financial media (and Macrumors) disregard such a trivial and obvious fact.
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Old Aug 19, 2014, 11:36 AM   #25
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Erik: Good job with that article. Well written covering all the bases especially the fact that while the price is nearing the all time high, the market cap is not.
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