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Apple stock inches past $500

Mel Martin

Apple stock broke the US$500 mark today. It's the first time for AAPL in that territory since late January of this year. The higher stock value followed by a day billionaire Carl Icahn's support for Apple with the announcement of a major stock purchase and a tweet saying that the stock was "extremely undervalued."

Apple will also be unveiling new iOS products on September 10, which may be further stirring the pot. Close followers of the company expect to see a low-cost iPhone, and perhaps an iPhone 5s model with an updated camera and some enhanced security features.

Apple had a good July on the NASDAQ, and the company regained its title of "Worlds Most Valuable Company." But it's probably too early for celebrations: Apple is nowhere near its all-time high share price of $705.07, achieved last year when it launched the iPhone 5.

Note: Apple closed today at $498.50 up 1.82 percent.

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