Apple hits all-time share price high and highest market capitalization
Following on from becoming a trillion-dollar company Apple has reached its highest valuation of all time today, during a trading period that put its shares at their highest price ever at $237.64.
Apple started the day with a share price of $232.95, but as the day moved on, the price continued to grow until it reached its peak of $237.64. The company ended the trading day slightly lower, at $236.21, representing a single-day gain of $6.12 or 2.66%.
The last time Apple hit an all-time intraday high was in October 2018, when it reached $233.47. As it stands, the company is now far above the trillion-dollar valuation milestone, and now has a market capitalization of $1.07 trillion.
Apple's day in trading for October 11, 2019 (via Google)
The high share price is likely attributable to an optimistic outlook on a trade agreement between the United States and China, with negotiators on both sides said to have reached a preliminary agreement, reports CNN, but stopped short of a comprehensive deal. The agreement is thought to include some US tariffs relief, which is likely to help companies like Apple that are affected by the extra import charges.
It is also possible that the agreement could reverse an incoming tariff set to start on December 15, which would raise the costs of iPhone imports by 10%.
The stratospheric share price is a good sign for investors ahead of Apple's quarterly results, which is set to be revealed on October 30. The call should cover key performance metrics for the quarter, including early launch month results for the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max.
Apple started the day with a share price of $232.95, but as the day moved on, the price continued to grow until it reached its peak of $237.64. The company ended the trading day slightly lower, at $236.21, representing a single-day gain of $6.12 or 2.66%.
The last time Apple hit an all-time intraday high was in October 2018, when it reached $233.47. As it stands, the company is now far above the trillion-dollar valuation milestone, and now has a market capitalization of $1.07 trillion.
Apple's day in trading for October 11, 2019 (via Google)
The high share price is likely attributable to an optimistic outlook on a trade agreement between the United States and China, with negotiators on both sides said to have reached a preliminary agreement, reports CNN, but stopped short of a comprehensive deal. The agreement is thought to include some US tariffs relief, which is likely to help companies like Apple that are affected by the extra import charges.
It is also possible that the agreement could reverse an incoming tariff set to start on December 15, which would raise the costs of iPhone imports by 10%.
The stratospheric share price is a good sign for investors ahead of Apple's quarterly results, which is set to be revealed on October 30. The call should cover key performance metrics for the quarter, including early launch month results for the iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max.
Comments
Perhaps I will treat myself to a nice steak dinner tonight, or maybe I'll buy a new iPad Pro if one is announced soon, or maybe I'll do both!
And now I just use DRIP for the dividends, so that my share amount will slowly but surely increase every single quarter. Over time, every small thing adds up.
No tech founder anywhere, not Bell, not Flint/Watson, not Hewlett, not Packard, not Edison, nor any tech founder since, has been able to match this.
What an incredible achievement.
this is worth a watch to put things in perspective. Apple is still small fry compared to the true king a $7.9trillion company.
the video is by a studio called cold fusion and it looks at the top 8 companies by market cap.
https://m.youtube.com/watch?v=coIn8DopwY0
No company in the world has traded at the market cap of AAPL or MSFT.
but let’s be careful here. Stock prices are very much in thrall to the trade war ebbing and waning. Next week, the market could be down by several percent, or up by several percent. It’s very unpredictable these days.
Oh, and keep bitching about anything Apple says or does. It’s the only way to live. And the Dutch East India Company FTW! Apple is an insignificant, irrelevant small time operation.
Man, this place is amazing in its ability to stay in the doldrums.
No matter what were to happen or what events were to take place, there is a zero percent chance of me selling any of my stock anytime soon. I'll see where we are in 10 years from now, and take it from there.
People often look at absolute changes, when they really should be looking at percentage changes.
Now imagine if Bill didn't create a multi-billion dollar company from stealing Apples idea (Windows)? Apple would have hit 2T by now.