Apple shares hit new all-time high without Jobs

As if any more evidence was needed to show that the trading markets have a high level of faith in Apple’s new CEO Tim Cook, it came with the news that Apple stock is sitting at an all-time high of $410 per share.

TUAW state that this has shown a 7.2% gain over the three weeks since Steve Jobs resigned from the Cupertino based company. This was good news for Apple investors, but also good backing for Cook himself.

The markets are likely to have noticed the work that Cook has done with the company since 2009, in which he has helped push the company into domination of the tablet market, launched a number of new products and helped turn the company into a far more efficient operation behind the scenes.

Tim Cook has stood in for Steve Jobs twice during the past 10 years, once in August 2004 while Jobs recovered for cancer surgery and then again when Job’s took an extended leave of absence while he recovered from a Liver transplant in 2009.

Rumors have been building about the impending launch of Apple’s iPhone 5, with reports from unnamed sources stating that the official press conference will be held on October 5. Furthermore, the retail launch of the iPhone 5 will happen a week later, according to this source.

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