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Published: Friday, 2/10/2012

iPad3 announcement ignites Apple trading


NEW YORK — Apple Inc. stock closed in on $500 a share and set an all-time high after news reports that it will unveil the iPad3 at an event in March.

The stock has been on a tear for six weeks, rising 22 percent since the start of the year and securing Apple’s place, at least for now, as the world’s most valuable company by market cap, ahead of Exxon Mobil.

On Thursday, Apple stock closed at $493.17, up almost 4 percent, after touching a record high of $496.75. That’s up from $405 on Dec. 30.

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