Apple Shares Worth Almost 50% Less Than Bitcoin Valued At $1,000
Apple Inc's shares has closed at $545.96 Nov. 27, up by $12 from the previous day's close of $533.40. This was the first time that Apple's share price has been in the positive range since January 2013 when stocks closed at $542.17.
Apple's current share price of $545.96 is still below its all-time high of $702.10 Sep. 19, 2012. The company had no big news to trigger the jump in price per share but Apple Inc's rumored deal with China Mobile may be one of the reasons investors are banking on this coming holiday season.
Gene Munster, a Piper Jaffray analyst, has conducted surveys twice a week to determine the availability of the iPhone 5S. He surveyed 60 Apple stores in the U.S. and found that most iPhone 5S models are available for purchase. Based on his report, 90 percent of iPhone 5S models are in stock compared to 31 percent a few weeks ago.
The latest version of the iPhone, the iPhone 5S, still enjoys high demand from consumers wanting to purchase the device. Apple Inc may have finally caught up with the demand just in time for the holidays.
Bitcoin Worth Almost Twice More Than One Apple Share
Bitcoin may be here to stay as the value of the digital currency has reached above $1,000 for the first time Nov. 27. The spectacular rise of Bitcoin has extended its 400 percent rise in just a month. Some Bitcoin believers see the virtual currency as a growing asset that continues to remain a mystery to the majority.
Bitcoin is now worth $1,073 in Mt. Gox, a Tokyo-based exchange. Mt. Gox is a popular operator of a Bitcoin digital marketplace. On Nov. 26, Bitcoin hit $900. This means Bitcoin is almost worth twice as much as one Apple share currently priced at $545.
At the start of November, Bitcoin was traded at $215. The popular digital currency is neither supported by the Central Bank nor the government. Analysts speculate that Bitcoin's price surge will be seen as overvalued in a short amount of time due to its increasing demand but limited supply.
Bitcoin is traded daily at 24 hours a day unlike the stock exchange which observes certain times. The digital currency's value is determined by the amount of confidence the people have in Bitcoin. It has been slowly gaining acceptance by investors and the general public. But it has yet to be allowed as a mode of payment in major retailer Web sites like Amazon.com.