Closing yesterday (June 12), for the first time in more than a year, Apple stock just closed at an all-time high. Analysts say this is the latest sign that tech giants are regaining market leadership.
After gaining 1.6% during the session, Apple stock closed at $183.79. This is the first time since January 2022 that Apple stock has peaked at closing prices, although the stock also peaked last week after the launch of the Vision Pro virtual reality device.
Overall, Apple shares are up 41% year-to-date. Meanwhile, the Nasdaq 100 index rose 35%.
No matter how volatile the market is, this is still a very popular stock for investors. When the US banking industry wobbled earlier this year, Apple stock was sought by investors as a safe haven because they believed in positives such as stable and sustainable revenue streams or financial health. healthy.
In the most recent, multiple WWDC23: Apple earnings report, Apple showed you why it’s impossible to leave their ecosystem. Apple’s index exceeded investor expectations and significantly mitigated concerns about the outlook. firm growth. In addition, investors are optimistic about Apple’s plan to expand and reform the retail chain.
“People are comfortable with Apple’s roadmap. It has incredibly good cash flow, and on the same business model no one can do better than Apple,” said Phoenix Financial Services analyst Wayne Kaufman.
“The bear market is over and people are coming back. And Apple is the kind of stock that investors feel comfortable holding whether the price goes up or down, because they are confident that in the long term Apple will definitely turn out to be profitable.”
After a sharp increase, Apple’s market capitalization now reaches $2.890 billion, just a little bit more to once again conquer the historic milestone of $3 trillion that it achieved in January last year.