Apple Stock Breaks $300

By Cindy Waxer October 13, 2010

Apple’s share price reached an all-time high, hitting the $301.96 mark, in morning trading on the Nasdaq. Apple’s shares have climbed more than 20 percent since the beginning of September.

Fuelling such growth is a number of factors including Apple’s announcement of a Mac-themed press event next Wednesday to showcase its new lineup of personal computers and offer attendees a sneak peek at the next version of its Mac operating system. Another contributing factor: shoppers can now place orders for an Apple iPad on Wal-Mart’s website. And the nationwide chain is gearing up to start selling the iPad in its bricks-and-mortar locations this Friday.

What’s more, although originally developed as a consumer product, the iPhone is fast finding its way into the hands of time-strapped CEOs and harried employees. UBS AG, Switzerland’s biggest bank, is considering allowing its staff to use iPhones for company messaging. And mutual funds provider Vanguard Group Inc. is also testing the iPhone with a handful of its employees.

Yet despite a strong stock price and a smattering of deals, Apple still faces stiff competition. A new survey from Nielsen reveals that Google’s Android is now the most popular operating system among people who bought a smartphone in the past six months, while Blackberry RIM and Apple iOS are in a statistical dead heat for second place among recent acquirers.

In fact, an astonishing 32 percent of the market was held by Android, followed by 26 percent for the BlackBerry, and 25 percent for the iPhone. The other 17 percent went to other phones and operating systems. The figures for August show a surge in Android sales, compared to July when it held 28 percent of the market. Growth between April and July was minimal, only a percent or two. However, January to April growth was staggering, increasing from 14 percent to 26 percent due to the launch of a wide range of new Android phones. All of which should give Apple a good run for its money.

Edited by Erin Harrison

TechZone360 Contributing Editor

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