Apple Valued at $700 Billion; U.S. Economy Grew 3.9% in Q3

Stocks end mixed today on a relatively quite day. Today, Apple (AAPL) became the first company ever to be valued at $700 billion. Apple's shares were trading as high as $119.75, giving the tech company a value of nearly $707 billion. The company has now surpassed analyst's 18-month price target of $118.88 a share. U.S. GDP grew at 3.9% pace in Q3, up from the first estimated rate of 3.5%. Economists expected the economy only to grow by 3.3%. The drop in gas prices gave consumers more disposable income, boosting consumer spending by 2.2%.

However, consumer confidence is unexpectedly falling in November; dropping to 88.7 from 94.1 in October.

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Published on Nov 25, 2014
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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