Apple shares soar to all-time high

Apple shares reached a record high Tuesday on highexpectations and renewed confidence frominvestors ahead ofa couple upcoming product launches.

The tech titan's stock closed at $100.53, topping the previous record set onSeptember 13, 2012 (once adjusting for the7-for-1 stock split announced in April).

Shares had fallenas low as $55 about 40 per cent of its valuein the year following the release of theiPhone 5. Analysts and investors worriedthe company lost its innovative touch without Steve Jobs at the helm while also watching iPad sales slump.

• Apple iPhone sales soar, but iPad sales slump

But Apple's latest quarterly earnings revealed strong profit on growing iPhone sales, as well as a promise fromCEO Tim Cook of"new products and services that we can't wait to introduce."

Apple is expected to unveil a larger-screeniPhone 6 at an event this September. The company has launched an updated version of theiPhone every year since the device's debut in 2007.

There are also reports Apple willenter the smartwatch race this year with an "iWatch."