Shares in technology giant Apple (Nasdaq: AAPL) reached $700 in after-hours trading, nearly double its 52-week low of $354.24, as the company announced that it sold more than 2 million units of the new iPhone 5 in 24 hours. Shares are up 20% for the quarter and nearly 75% for the year -- run of the mill for a company that has seen its shares increase nearly 100 times over since a low of $7.07 in 2003.

The $700 mark is another all-time high for Apple -- by some measures the world's largest company ever -- which rose on Friday as well on rumors of the iPhone 5's success.

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Fool contributor John Divine owns shares in Apple. You can follow him on Twitter, @divinebizkid, and on Motley Fool CAPS, @TMFDivine.

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