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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.

Tim Cook at June 4 2018 keynote presentation



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.