Apple (NASDAQ:AAPL) returned to the triple-digit zone, touching US$100 during midday trading for the first time since its seven-for-one split in June.
The rally gave the iPad and iPhone maker a market capitalization that topped US$600 billion.
The stock followed a general upward trend after the milestone, putting shares above their split-adjusted record close of US$100.3 set on September 19, 2012, just below the split-adjusted all-time high of US$100.72 from Sept. 21, 2012.
At pre-split levels, the stock traded above $705 in September 2012 and fell to trade near $600 last May.
Shares have risen more than 8% since the split, when the stock opened near US$92 a share. Apple shares had not traded below US$100 for five years.
Apple shares have been rejuvenated in recent months thanks to strong quarterly results, high expectations for new products and a 7-for-1 stock split that was completed in June. The split, which increased the number of shares outstanding and lowered the price accordingly, was aimed at making Apple’s stock more accessible to a wider audience.
Apple's highly anticipated iPhone 6 is expected this fall, with much speculation about the new device surfacing daily.
With Apple’s rumored iPhone introduction less than a month away, Asian factories have already cranked up production on the next version of the popular smartphone, generating numerous leaks of new features.
Investors and analysts say a larger screen is likely the top new iPhone feature, based on the leaks and credible media reports. Such a move would also be consistent with Apple’s strategy of revamping the iPhone’s physical appearance every two years, as it last did in 2012.
Apple’s current models offer just a 4-inch screen, but the 2014 versions are expected to provide 4.7-inch and possibly even 5.5-inch views. The 4.7-inch model would be around the same size as some of the most popular phones over the past few years that run Google’s (GOOGL) Android software.
Amid the solid leaks of models with bigger screens come somewhat less certain rumors of new pricing tactics. If Apple introduces a 5.5-inch model, it will certainly cost more, but some analysts think even the 4.7-inch model could carry a $100 premium.