Apple shares hit $60 yesterday, reaching a figure not seen since 1993, and beating Wednesday’s 52-week high.

The share price on Wednesday rose 7.79 per cent to $59, a new 52-week high, but reached $60 when the market closed yesterday. The change was an increase of 0.3 per cent.

Industry analysts believe the rise in price is due to the anticipation of Steve Jobs’ next set of announcements – expected during the keynote speech at the Seybold Conference in San Francisco, August 30 to September 3. It is widely believed that Jobs will use the event to announce new hardware, such as upgraded iMacs.