Apple Stocks Rise To All Time Highs
Apple shares have closed on an all-time high closing price of $133.29 a share, topping the company’s previous record set back in February 2015 and almost topping their intraday high record of $134.54.
With no clear product launch or announcement to pin the rally on, analysts have attributed the bump to a number of potential growth drivers for the company.
Yesterday’s Grammy music awards, emceed by comedian James Corden, offered up the first trailer for Apple’s upcoming Carpool Karaoke series and showed the company are serious about their upcoming ventures into video content.
The event also saw Chance the Rapper’s “Coloring Book”, an album initially released exclusively through Apple’s Apple Music streaming service, win an award for best rap album.
Other analysts have identified growing optimism for the 2017 iPhone and a growing expectation that the Trump administration’s policies will prove beneficial to the company more often than not.
“It’s probably just a continuation of the rally following the last quarter report and guidance for the second quarter that’s giving investors a bridge to the next iPhone that many are getting excited about,” BTIG analyst Walter Piecyk told Bloomberg.
Apple’s stock has risen nearly 10 percent since the close on Jan. 31, when Apple reported quarterly earnings of $78.4 billion.