Apple Shares Hit Record Highs As Tech Rallies. Shares of tech giant Apple wrapped up at an all-time high today. This was Apple’s first record breaker since the beginning of this year. Many investors have begun to speculate about the new iPhone, slated to come out this year. The new iPhone won’t be a market disruptor, but Apple shares have slumped recently and many hope this will help. The S&P 500 rallied 16% today as well.
Yesterday Apple went up by 1.8%, which overshadowed the previous record close of $142.70 in January. Apple is now $300 Billion above its next biggest competitor, Microsoft, at $2.4 Trillion.
Many things are helping this rally along, experts say. MetaNews analysts have told us that Apple shares are in a trend to outdo the summer quarter in advance of the company’s newest launch of iPhones.
Analysts are also telling us that a recent spike in Apple’s production orders for its new flagship product and demand for the iPhone 12 line is still at a high. Many Bulls see this trend as an indicator of a persistent growth slope that should maintain into the latter half of the year.
Apple listed revenue of $89.6 billion in the last quarter, which is an increase of 54%. This was fueled by a 66% growth in iPhone sales and revenue, a 27% rise in services, and growth of 70% for Macs and 79% for iPads. Overall sales were up 88% in the Chinese markets, a whopping 35% in the Americas, an additional 49% in Japanese markets, and an astonishing 94% in what remains of Asia The company hasn’t release any specific guidance for June. But they have noted that the gradual decline from the last quarter would likely be an increase over earlier years. MetaNews is on top of the developing tech rally that has included big gains for Apple. Apple Shares Hit Record Highs As Tech Rallies.