Shares of Apple are finally rising once again after some years in the stagnation. Due to renewed excitement about some savvy financial moves and the iPhone, Apple shares added $100 billion in 3 months.
On Thursday, Apple’s stock crossed $630 mark after rising 20% in the past 3 months. That is the highest level since the stock reached its all-time high level of $705.07 in the fall of 2012.
CEO Tim Cook agreed to the idea of activist investor Carl Icahn and others to pay higher dividends after buying back more shares.
Investors also appreciate Cook’s decision to divide Apple shares seven-for-one which will decrease the price per share from the present level to roughly $90.
Worldwide expansion in sales of high-end smartphones has decelerated, particularly in Europe and the U.S., while expansion of cheaper models has accelerated. A strong demand in India, China and other developing markets for lower-priced, older models compensate any weakness at the high end.
Later this year, sales might get a further boost when Apple is expected to launch new iPhone models with bigger screens.
Apple will hold its annual World Wide Developers Conference on June 2 in San Francisco. Investors are also curious about different leaked future software features, a few of which might be announced officially next week.