(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
Ivaylo Vezenkov and Lauren del Valle, CNN
Paul Menser, BizMojo Idaho
Julia Horowitz, CNN