Widget Image
Follow PPD Social Media
Monday, July 22, 2024
HomeNewsEconomyApple (NASDAQ:AAPL) Closes at Record High for Second Straight Trading Day

Apple (NASDAQ:AAPL) Closes at Record High for Second Straight Trading Day

Apple CEO Tim Cook. (Photo: Reuters)

Apple Inc. (NASDAQ:AAPL) closed up 1.30% at 135.02, gaining 1.73 points to set a new record high for the second straight trading day. The stock’s gains, along with those in the banking sector, have contributed to runs in the S&P 500 (INDEXSP:.INX), Dow Jones Industrial Average (INDEXDJX:.DJI) and Nasdaq Composite (INDEXNASDAQ:.IXIC) indexes.

Shares of Apple also hit an intraday record high on Tuesday for the first time in nearly two years as investors anticipate a 10th anniversary iPhone is going to be a boon in otherwise lackluster sales. Forecasters anticipate a drastically improved model.

Before it was topped by later trading prices, the stock was up 1.2% at $134.91 in afternoon trade, beating its previous intraday high of $134.54 set on April 28, 2015.

Tuesday’s all-time high for the stock followed a record high close the day before and was seen as adding to the stock’s momentum. The company, based in Cupertino, Calif., reported stronger than anticipated December-quarter results on Jan. 31, but gave a cautious outlook for the current quarter.

Still, Wall Street anticipates revenue to grow this year after falling nearly 8% in fiscal 2016.

The S&P 500’s largest component is up 50% from lows in the first half of last year and 16% thus far in 2017. The index closed up 9.33, or 0.40% to 2,337.58.

Written by

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

No comments

leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial