Apple shares hit a record high of $250.42 on Wednesday

Apple shares hit a record high of $250.42 on Wednesday, following a close of $247.70 on Tuesday, though they dropped slightly to under $248 on Thursday. The company’s market capitalization remains near its all-time high of $3.74 trillion.This surge coincides with the 44th anniversary of Apple’s IPO on December 12, 1980, when shares were priced at $22.

After five stock splits, the split-adjusted price was just $0.10 per share. An investor who bought $1,000 worth of Apple stock at the IPO would have received 45 shares, which later grew through splits, including three two-for-one splits, a seven-for-one split in 2014, and a four-for-one split in 2020