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Apple shares hit $700 after hours

iPhone 5 pre-order news gives company a stock market boost

The release of the iPhone 5 has helped Apple into an exclusive club of companies who have traded at over $700 per share.

Apple opened at a record high when trading started in the US yesterday, and hit $701.70 after hours. It currently stands at $699.78 per share, with a market cap of $655.98 billion.

Apple's announcement that it had sold 2 million iPhone 5 pre-orders in the first 24 hours of availability won't have hurt the share price. The new device, which costs over £500 for the basic model, is set to go on sale on September 24.

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Rachel Weber

Senior Editor

Rachel Weber has been with GamesIndustry since 2011 and specialises in news-writing and investigative journalism. She has more than five years of consumer experience, having previously worked for Future Publishing in the UK.