news\ Feb 29, 2012 at 9:25 am

Apple value hits $500 billion amidst iPad 3 announcement


Apple, the tech giant responsible for bringing us the iPhone and iPad, is the highest valued business in the world with it's value rising above half a trillion dollars.

Share prices surged to $535.41 yesterday, after the company sent out invitations to a private event set for next week when they are expected to unveil the new iPad 3.

Yesterday, Apple began sending email invites to journalists with a photo of someone using an iPad, with a line that reads: "We have something you really have to see. And touch."

Of course that, along with all of the previous rumors, have led to speculation that Apple is planning to reveal the iPad 3.

Data from Bloomberg shows that Apple has a current market capitalization of $499.2 billion.  The company had broken the $500 share mark two weeks ago with its valuation calculated to be $469 billion.

Last month, Apple reported the company's fiscal 2012 first quarter revenue was $46.34 billion, up 73% compared to last year's fourth quarter report.  Apple set all-time records company records, selling 37.04 million iPhones and 15.43 million iPads in the quarter.


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