Apple stock hits all time high during WWDC as market cap flirts with $1 trillion
On a day of a software-focused Apple event with no Wall Street pleasing hardware announcements, the company's stock continues to climb, and reaches a new end-of-day high.
Apple's stock Monday closed at a new all-time high of $191.83, besting the previous end-of-day high of $190.04 on May 10. The stock price reached as high as $193.42 during the day. The company's stock price was $172.26 at the start of 2018.
The new high continues several weeks of strong stock performance from Apple, dating back to the company's most recent earnings, which outperformed expectations and quieted whispers about sluggish iPhone sales performance, along with a stock buyback, huge growth in the company's services business, as well as news that Warren Buffett had significantly upped his Apple stake.
The new high Monday seemed to indicate investor satisfaction with Apple's announcements in its WWDC keynote, although the keynote focused on software for iPhone, iPad, Mac and Apple Watch, and did not include any hardware product launches. Apple stock also suffered a bit from the normal sell-off that historically happens during an Apple event, but the day still ended above the last record.
The major announcements in the keynote included iOS 12, Mac OS10.14 Mojave and watchOS, all of which were released in beta to developers.
Apple is now on track to reach a pair of milestones in the near future: A $200-per-share stock price, and a market cap of $1 trillion.
Apple's stock Monday closed at a new all-time high of $191.83, besting the previous end-of-day high of $190.04 on May 10. The stock price reached as high as $193.42 during the day. The company's stock price was $172.26 at the start of 2018.
The new high continues several weeks of strong stock performance from Apple, dating back to the company's most recent earnings, which outperformed expectations and quieted whispers about sluggish iPhone sales performance, along with a stock buyback, huge growth in the company's services business, as well as news that Warren Buffett had significantly upped his Apple stake.
The new high Monday seemed to indicate investor satisfaction with Apple's announcements in its WWDC keynote, although the keynote focused on software for iPhone, iPad, Mac and Apple Watch, and did not include any hardware product launches. Apple stock also suffered a bit from the normal sell-off that historically happens during an Apple event, but the day still ended above the last record.
The major announcements in the keynote included iOS 12, Mac OS10.14 Mojave and watchOS, all of which were released in beta to developers.
Apple is now on track to reach a pair of milestones in the near future: A $200-per-share stock price, and a market cap of $1 trillion.
Comments
On a side note....Yeah this keynote was a snoozefest! /s
And, I guess I'd rather be a gnat flying around, than attached back there.
And I certainly slept through it. Seriously, it was on at 3am here, and I'm on holiday, so I didn't wake up to watch it. Plus they didn't announce any hardware, let alone an octo-core i11 Groom Lake MacBook Pro with every legacy port, and an inlaid unicorn horn glowing logo on the back for less than $1000, so I guess they must be failing.
Although to be fair, negative talk post-keynote has been muted. The biggest negative — if you want to call it that — is the poking fun at Apple for Walkie Talkie and comparisons to Sprint's PTT/Nextel. So maybe I'm A Donnie Downer and AAPL will continue to rise steadily.