Apple hit a milestone on Friday, with shares reaching $500 for the first time in company history. That number solidifies Apple’s lead as the most valuable company in the world, with a $460 billion market capitalization, compared to Exxon Mobile’s second-place $400 billion valuation, as the Associated Press reports. And investors expect the stock to climb still higher, with $600 the most-oft targeted number by analysts, although a high-end estimate puts $700 within reach, CNBC reports.
The news is also a striking reminder of the amazing reversal of fortune Apple was able to accomplish in the last fifteen years after Steve Jobs retook the helm as CEO, when Apple shares were priced at $4 and the company had to seek out a loan from Microsoft, Investor Place reminds readers.
