Apple's Stock Reaches Highest Price Since 2015
Apple's stock price is currently hovering around the $120 mark in intraday trading, its highest level since late 2015. The stock has been steadily climbing in value since dropping to a 52-week low of $89.47 in May 2016.
2016 marked Apple's first year-over-year decline in revenue since 2003, and first drop in iPhone sales ever, but its stock price appears to have mostly weathered the storm. Since bottoming out, Apple has introduced the iPhone 7 and iPhone 7 Plus, long-awaited new MacBook Pro models, Apple Watch Series 2, and AirPods.
This year, Apple is rumored to introduce at least one majorly redesigned iPhone, a trio of iPads, and new Macs, including an updated iMac with the option for AMD graphics, new 12-inch MacBook models with Kaby Lake processors and up to 16GB of RAM, and a 15-inch MacBook Pro with Kaby Lake and 32GB of RAM.
Last month, Apple analyst Brian White said he "continues to believe Apple is one of the most underappreciated stocks in the world," partly due to "a never ending waterfall of 'gloom and doom' media reports" surrounding the company.
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Loop Capital has lowered its rating on Apple from "Buy" to "Hold," saying the company is unlikely to make up an estimated 13 million iPhone shipments cut from its plans for the second half of 2026, according to Investing.com.
The firm reduced its Apple stock price target from $370 to $330. Loop previously believed shortages of memory and processors had delayed shipments that Apple would...
Apple today closed with a market capitalization above $5 trillion, making it the second company to do so after Nvidia.
As noted by The Wall Street Journal, Apple's market cap has exceeded $5 trillion six times before today during intraday trading, but this is the first time the company stayed above the mark at closing.
Apple closed at $342.96, for a market cap of $5.005 trillion. The new...
