Apple closes above $700 for first time

By AP Technology Writer BARBARA ORTUTAY (AP)

Created: Wednesday, September 19, 2012 1:15 a.m. CDT

NEW YORK (AP) – Apple’s stock closed above $700 for the first time on Tuesday, the day after it announced that orders for its iPhone 5 topped 2 million in the first 24 hours.

Shares closed at $701.91 Tuesday, up $2.13 from Monday’s close. They rose as high as $702.33 in afternoon trading Tuesday.

The rally in Apple’s stock price puts the company’s market value at $658 billion.

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