Apple stocks pass $500 as firm's financial success continues

Success of iPhone and iPad devices sees Cupertino giant close in on Google's share price

Apple's share price passed the $500 mark for the first time in the firm's history on Monday afternoon as the success of its iPad 2 and iPhone devices continue to make the firm one of the world's most valuable companies.

It has taken just six months since passing the $400 on the Nasdaq market to rocket to £500 and comes three years after the firm's share price was a comparatively paltry $89.31 in February 2009.

Since then the success of its iPhone and iPad ranges, particularly their increasing use among both consumers and business users, has fuelled the firm's valuation, which is now inching towards $470bn as it continues to rake in record profits.

The firm's financial success is in stark contrast to some of its key rivals, with the likes of Microsoft stagnating on $30 per share price - and a market cap of $256bn - and Nokia on just $5 a share or a $18.5bn market cap, as other firms find it hard to make any traction in the smartphone and tablet markets.

Only Google can outperform Apple for share-value, with its stock currently priced around the $613 mark, but with fewer shares it circulation, it's value is a 'paltry' $199bn.

The question everyone will be asking, though, is clear: why on earth didn't I buy some shares in Apple three years ago?