Apple closes in on $500 billion valuation with share prices rising 1.8 per cent following the arrival of the official iPad 3 announcement invites
Following the issuing of the official invites to the March 7th Apple iPad 3 release announcement, Apple has seen its stock prices soar as the Cupertino based company narrows in of a half a trillion dollar valuation.
Extending its reach as the world’s most valuable company, Apple yesterday saw its shares rise $9.65, 1.8 per cent apiece to close the day at $535.41 (£336.12) and give the company an overall valuation of $499.2 billion (£313.4bn), some $90 billion more than the world’s second most valuable company, Exxon.
Confirmed to be heading for a March 7th unveiling, much speculation now surrounds the imminent iPad 3 release date with March 16th or March 23rd likely options based on Apple’s past routines.
Tipped for inclusion on the second-generation Apple tablet, the iPad 3 is expected to play host to a higher resolution screen, similar to the Retina display offering found on the iPhone 4 and iPhone 4S.
"The new display is capable of greater resolution than the current iPad, with more pixels on its screen than some high- definition televisions," an unnamed insider source announced recently. "The pixels are small enough to make the images look like printed material. Videos begin playing almost instantly because of the additional graphics processing."
Rumours of an Retina display touting iPad 3 were further bolstered by the official Apple invite which announced simply: “We have something you really have to see. And touch.”
Elsewhere recent iPad 3 rumours have suggested the iPad 2 replacement will feature a form factor 1mm thicker than its predecessor with the increased internal space to be filled with the new display, an A6 quad-core CPU and improved optics for the rear-mounted camera.