Stephen Silver
Apple, which began August by hitting $200 a share and crossing the trillion-dollar valuation mark the following day, hit another new all-time closing high of $227.63 on August 31.
The rally capped off an historic month for Apple, ahead of the expected arrival of a new iPhone lineup and other new hardware on Sept. 12. The price had reached as high as $228.78 on Friday morning.
The stock performance can best be attributed to lots of good news for the company and very little bad news.
On August 1, one day after a positive quarterly earnings report, Apple's stock hit $200 a share for the first time since the 2014 stock split. The next day, Apple became the first American company in history to reach a market capitalization of $1 trillion.
Later in August, investor Warren Buffett announced that he had once again upped his Apple stake, and a leak appeared of two iPhone models that are expected as part of this fall's lineup of that key Apple product.
As a result, the stock climbed steadily throughout the month, from the $200 milestone on the 1st to $227.63 on the 31st. It's just the latest of several times this year Apple has broken its all-time high valuation.
Charles Martin
Malcolm Owen
William Gallagher
Christine McKee
Wesley Hilliard
35 Comments
DOOMED!!
Bring on 2 Trillion...
One foot in the grave with the other foot on a banana peel. Another analyst today said that of the FAANG stocks Apple is the most worrisome. Any day now sales could collapse and would take services with it. Another day in the life of Apple.
For those not keeping track: this means the stock is up $63 per share from a year ago ($78 higher than its lowest point over the past year), an increase of over 39 percent. Not to mention that whole "most valuable publicly-traded company in history" and "largest payer of US corporate taxes" thing.
Clearly, Cook must resign. :D
I wonder if we will start seeing some negative stories in lead up to "Gather round" event. Drive the price down, buy some shares and sell them when they go back up after the new products launch.
Cramer beware.