Stephen Silver
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.
Christine McKee
Charles Martin
Oliver Haslam
William Gallagher
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17 Comments
Might happen, might not. In either event Apple goes down in history as the best managed corporation in history. Steve Jobs and the Apple way are studied in every business school in the world. From a company founded in a garage in 1976 forward forty years to the most valuable and well run company on the planet. And the people in these forums who constantly whine and complain, denigrate and dismiss, are nothing more than gnats flying around Apple’s asshole trying to get just a whiff of the greatness.
$200 in coming days!
Nothing says "bright future" like Memoji!
If Steve were here this would have happened months ago! /s
On a side note....Yeah this keynote was a snoozefest! /s