Apple Stock (AAPL) Exceeds $700 Following Record iPhone 5 Pre-Orders

Earlier this afternoon, following today’s news of a record-breaking two million iPhone 5 pre-orders in less than 24 hours, Apple’s stock (AAPL – Apple Inc. NASDAQ) is up over 10.6 points (approximately 1.53%).

This after-hours jump in Apple’s stock resulted in the price for shares exceeding $700 for the first time in the company’s history.

Apple's stock reaches $700 a share

Recently, Apple’s stock price has risen at an unprecedented rate, despite a slight lull towards the middle of 2012. Moreover, Apple has had a great year overall, with record sales for the first quarter of their 2012 fiscal year, during which the company exceeded $46.33 billion in sales and $13.06 billion in profit.

Also, this year alone, Apple not only exceeded a total market worth of $500 billion, but hurdled over the $600 billion mark as well in April. Now, Apple is evaluated at over $650 billion, which is in excess of $225 billion (the equivalently of Google’s entire worth) more than the world’s second most valuable company, ExxonMobil.

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