(NEW YORK) — Not that long ago $400 was considered by some to be too high a price to pay for Apple stock, but now that seems like a bargain as the stock closed on Tuesday above $700 for the first time — $701.91 to be exact.
The company’s stock has been on an upward march since rumors of a new iPhone 5 started.
Now the iPhone 5 is here, there were more than two million pre-orders in the first 24 hours, and the stock price has hit another milestone.
Copyright 2012 ABC News Radio
Paul R. La Monica, CNN
Parija Kavilanz, CNN