Apple shares close at record high, market cap hits $2.4 trillion

Posted:
in General Discussion
Apple's stock price closed at $144.57 on Wednesday, an all-time record high that breaks the previous record closing price set in January.

Credit: WikiMedia Commons
Credit: WikiMedia Commons


The Cupertino tech giant's share price rallied 1.8% on Wednesday before hitting the record close. Overall, Apple's share price rose for the seventh day straight, the company's longest streak.

Apple's closing share price of $144.57 on July 7 eclipsed the previous high set in January 2021. It is still slightly below an intraday record of $145.09, which was also set in January.

Apple's total market capitalization has now hit $2.4 trillion. Its shares have surged about 9% this year, below that of other technology firms. The S&P 500 Index, to which Apple is the biggest contributor, gained 16%.

The new record comes amid optimism about Apple's growth outlook and expectations that iPhone sales could continue to climb in the next six months.

In May, analyst Katy Huberty forecast that Apple could report a better-than-expected June quarter. The period is typically Apple's slowest, but Huberty believes the company could outperform Wall Street expectations.

The Cupertino tech giant will report its fiscal third quarter earnings on Tuesday, July 27.

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Comments

  • Reply 1 of 14
    red oakred oak Posts: 989member
    Light the after burners.   We are going to the Moon 🌙 


    watto_cobra
  • Reply 2 of 14
    KTRKTR Posts: 259member
    Let hope the stock market stays on the upswing.  
    watto_cobra
  • Reply 3 of 14
    iOS_Guy80iOS_Guy80 Posts: 682member
    A tremendous company, with superb management that keep creating software, innovative hardware and services that people seek and use daily. 
    watto_cobra
  • Reply 4 of 14
    JapheyJaphey Posts: 1,465member
    Follow the insider traders. 
    watto_cobra
  • Reply 5 of 14
    sflocalsflocal Posts: 6,020member
    My AAPL thank you.

    To all you that continue to question Tim Cook's leadership - screw you.
    MacProgenovellered oakroundaboutnowramanpfaffmariowincobyronllkruppwatto_cobra
  • Reply 6 of 14
    ramanpfafframanpfaff Posts: 106member
    Starting to buy AAPL in 2004 was the best move I ever made. Loved my Mac and bought what I believed in.  :)
    am8449mariowincobyronlwatto_cobra
  • Reply 7 of 14
    dogolacadogolaca Posts: 9member
    That 2003 investment is looking better all the time.....
    ramanpfaffbyronlwatto_cobra
  • Reply 8 of 14
    indiekidukindiekiduk Posts: 370member
    I wouldn't have called this until it was over the previous intra day all time high of $145.09 you just might have jinxed it!
    watto_cobra
  • Reply 9 of 14
    MacProMacPro Posts: 19,523member
    I see MC of $3T in the not too distant future.
    watto_cobra
  • Reply 10 of 14
    MacProMacPro Posts: 19,523member
    Starting to buy AAPL in 2004 was the best move I ever made. Loved my Mac and bought what I believed in.  :)
    Same here, even had a fight with my broker the who violently disagreed at the time.  I saw my investment go from 5 figures to 7 figures during that time. The Broker has since apologized and admitted he wished he'd done the same.  I saw this happen with Microsoft shares decades earlier and missed that opportunity, I was dammed if I'd make the same mistake twice.
    byronlwatto_cobra
  • Reply 11 of 14
    byronlbyronl Posts: 257member
    MacPro said:
    Starting to buy AAPL in 2004 was the best move I ever made. Loved my Mac and bought what I believed in.  :)
    Same here, even had a fight with my broker the who violently disagreed at the time.  I saw my investment go from 5 figures to 7 figures during that time. The Broker has since apologized and admitted he wished he'd done the same.  I saw this happen with Microsoft shares decades earlier and missed that opportunity, I was dammed if I'd make the same mistake twice.
    why did he disagree?
    edited July 2021 watto_cobra
  • Reply 12 of 14
    lkrupplkrupp Posts: 10,341member
    Uncle Warren always says never buy stock in a company whose business you don't understand. Apple’s business is quite easy to understand; build great products that people want to buy, provide superior customer service, give the customer a great experience and make them feel satisfied.

    I simply don’t buy into the socialist/progressive mantra that ALL corporations are evil and achieve their wealth on the backs of the proletariat. 
    watto_cobra
  • Reply 13 of 14
    lkrupplkrupp Posts: 10,341member
    MacPro said:
    Starting to buy AAPL in 2004 was the best move I ever made. Loved my Mac and bought what I believed in.  :)
    Same here, even had a fight with my broker the who violently disagreed at the time.  I saw my investment go from 5 figures to 7 figures during that time. The Broker has since apologized and admitted he wished he'd done the same.  I saw this happen with Microsoft shares decades earlier and missed that opportunity, I was dammed if I'd make the same mistake twice.
    And that attitude continues to this day. Many brokers and financial advisors still believe AAPL has one foot on a banana peel and will collapse any day now. 
    watto_cobra
  • Reply 14 of 14
    mpantonempantone Posts: 1,939member
    MacPro said:
    Starting to buy AAPL in 2004 was the best move I ever made. Loved my Mac and bought what I believed in.  :)
    Same here, even had a fight with my broker the who violently disagreed at the time.  I saw my investment go from 5 figures to 7 figures during that time. The Broker has since apologized and admitted he wished he'd done the same.  I saw this happen with Microsoft shares decades earlier and missed that opportunity, I was dammed if I'd make the same mistake twice.
    No one bats 1.000 -- not even Warren Buffett.

    Your broker might have been following Katy Huberty who was a notorious AAPL bear during that era. She has only recently jumped aboard the AAPL bandwagon. A lot of advisors have made blatantly incorrect assessments, sometimes years and years of contrary results.

    Any broker can make a wrong prediction at any time. The important statistic is if they are more often right than wrong over the long run. You can't judge any financial advisor by just one prediction. Investing is a game of odds.

    Remember that the advisor is there to make suggestions not decisions. It's ultimately your call to decide how to invest. It's your money after all.
    edited July 2021 watto_cobra
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