Mike Wuerthele
At the close of the market on Monday, Apple hit an all-time high of $133.29, breaking the previous record set on May 22, 2015, with market capitalization again flirting with $700 billion.
Apple stock continues to be buoyed by a stronger-than-expected quarterly earnings report. The earnings report was led by the blockbuster debut of the iPhone 7 series and Services revenue, with Apple reaping a record-setting $78.4 billion in revenue and $17.9 billion in net profit.
The climb has taken nearly two years, with the last peak of $132.54 hit at the close of business in May 2015. Today's surge was aided by a pair of reports on Monday morning, claiming that Apple's Services revenues were undervalued by investors, with one claiming that the stock was undervalued by as much as 10%.
Defying post-quarterly earnings report trends, Apple stock rose over $7 on Feb. 1, the day after the Apple quarterly earnings report, and has not fallen below $128.53 since Feb. 2.
Thursday's peak may not be the end of the tale, however. Analyst Ben Schachter of Macquarie predicts the highest 12-month valuation for Apple out of all the analysts at $156. In a note to investors, Macquarie said that the continues growth of Apple's "Services" business should command more attention going forward, and continue to propel Apple profits.
Other investors are less bullish, but still expect to see Apple climb to between $140 and $150 per share in fiscal year 2017.
Charles Martin
Malcolm Owen
William Gallagher
Christine McKee
Wesley Hilliard
Andrew Orr
43 Comments
Wish they were private. There'd be much less bullshit to focus on then and more on products, design, pricing and environment.
On another front, if they are indeed working on a car, and I think they are, Tesla have a huge lead over them technologically. And Tesla are also building a cohesive and comprehensive environmental solution where power can be generated, stored and used for home and transport in their or anyone else's vehicle—the needs of every person on Earth. With buses, trucks, pickups and all kinds planned. Apple better get a mooove on.
Enjoying this stock bump. Good times.
All time high?
Did time begin last year?
Because I seem to remember a high around 134 and 1/2. About two years ago.
This is all Tim Cook's fault.