NEW YORK — Apple Inc.’s stock touched $600 for the first time, the day before the company’s latest iPad goes on sale.
The stock reached $600.01 just after the market opened. It lost those gains and closed down $4.02, or 0.7 percent, at $585.56.
Apple is the world’s most valuable company, with a market capitalization of nearly $555 billion. It topped $500 billion for the first time in late February, a market value peak reached by few companies.
Anticipation is high for Apple’s latest creation. Some industry experts believe the Cupertino, Calif., company could sell 1 million of the new iPads today, when it becomes available to the public. Apple stopped taking advance orders for today and said customers should expect a two- to three-week wait for purchases made through its online store.
There were 15.4 million iPads shipped in Apple’s most recent quarter, which included the critical holiday season. That amount was more than double its iPad sales the year before. The Associated Press
