Apple Shares Hit $700

Shares in technology giant Apple (NAS: AAPL) reached $700 in after-hours trading, nearly double its 52-week low of $354.24, as the company announced that it sold more than 2 million units of the new iPhone 5 in 24 hours. Shares are up 20% for the quarter and nearly 75% for the year -- run of the mill for a company that has seen its shares increase nearly 100 times over since a low of $7.07 in 2003.

The $700 mark is another all-time high for Apple -- by some measures the world's largest company ever -- which rose on Friday as well on rumors of the iPhone 5's success.

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Fool contributorJohn Divineowns shares in Apple. You can follow him on Twitter,@divinebizkid, and on Motley Fool CAPS,@TMFDivine.The Motley Fool owns shares of Apple.Motley Fool newsletter serviceshave recommended buying shares of Apple and creating a bull call spread position in Apple. We Fools don't all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. Try any of our Foolish newsletter servicesfree for 30 days. The Motley Fool has adisclosure policy.

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