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Apple shares reach unprecedented $700 amid iPhone 5 fever Meanwhile, AMD shares fall as CFO walks

Apple has been given an unprecedented vote of confidence on Wall Street as the share price of the company climbed to an all-time record of $700 in after hours trading.

iPhone / iPod Touch ScreenshotThe new surge of interest in the company comes on the back of new buzz for the upcoming iPhone 5 device, which Apple said has received two million pre-orders.
While the company says the majority of pre-orders “will be delivered” to customers in time for the iPhone 5 release date of September 21, Apple says “many are scheduled to be delivered in October”.
Apple shares crossed the $700 mark in after-hours trading, peaking at $701 and closing at $699.78. Since January, shares in Apple shares have climbed 73 per cent.
Meanwhile, shares in PC chipmaker AMD sunk by 13 per cent in after-hours, following AMD’s statement that its CFO Thomas Seifert had resigned.
Seifert stepped away “to pursue other opportunities,” the company said.

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