Apple shares hit $700 for first time

Apple's (NAS: AAPL) stock reached $700 for the first time on Tuesday, the day after it announced that orders for its iPhone 5 topped 2 million in the first 24 hours.

The stock traded as high as $701.44 in the morning, up a quarter of a percent from Monday's close. It later fell slightly. It had come within 20 cents of $700 on Monday.%VIRTUAL-SkimlinksPromo%