apple reports q and wall street freaks out in another display of short term memory  i ta 0 Apple stock closes in on $700

Apple is getting closer and closer to becoming the first company ever to hit the trillion dollar market cap.  After hour trading saw Apple stock hit the $700 mark, taking the Cupertino firm one step closer to making history.

Apple is getting closer and closer to becoming the first company ever to hit the trillion dollar market cap.  After hour trading saw Apple stock hit the $700 mark, taking the Cupertino firm one step closer to making history.

 Apple stock closes in on $700

Prices of Apple shares continue to rise in the last 12 months, far exceeding the expectations of some analysts.  Many people are accrediting Apple’s success on the ticker board to the recent launch of the iPhone 5.  The latest flagship has already garnered millions of pre-orders since the Apple store made the phone available on September 14. 

How successful is the iPhone 5 launch?  According to the Associated Press, pre-orders of the iPhone 5 exceeded 2 million within the first 24 hours—that’s twice the orders of the iPhone 4S over the same time span.

Adding to Apple’s success on Wall Street are recent victories in court over several firms worldwide.  Apple recently took home over $1 billion from Samsung because a California court found that the South Korean tech firm infringed upon patents owned by Apple.