September 19, 2011, 6:59 PM — If Wall Street is concerned about Apple's prospects in the wake of co-founder Steve Jobs's health-related resignation as chief executive in late August, it's not showing it.
Shares of the world's most valuable technology company hit an all-time high of 413.23 on Monday before closing at 411.63, an all-time high closing price.
The new mark beats the previous Apple stock high of 404.50 set on July 26. Apple shares are up 29.6% since June 20 and 10.2% since Jobs announced on Aug. 24 that he was relinquishing his CEO job.
Of course, Jobs yielded the day-to-day running of Apple to new CEO Tim Cook back in January, when he took an indefinite medical leave of absence to deal with serious health issues. Jobs is a pancreatic cancer survivor and also had a liver transplant in 2009. He appeared gaunt in his infrequent public appearances since his January medical leave.
Turning to longtime COO Cook -- who has filled in for Jobs before -- clearly has reassured investors, some of whom had expressed concerns earlier this year regarding what they claimed was Apple's lack of succession planning. Indeed, not only has Apple's stock risen in the past four weeks, trading volume has remained steady.
Apple currently is preparing for the launch of the highly anticipated iPhone 5, with a third version of its iPad tablet coming next year.