Apple's shares set new closing high at $133.29

Shares of Apple set an all-time closing high this afternoon, with the stock winding up NASDAQ trading at $133.29. It was the highest close for the tech giant since February 2015 when the shares ended the trading day at $133. Investors now seem poised to take Apple above its all-time intra-day price of $134.54 which was set in April of 2015. Apple has been trending higher since November 14th, 2016 when it bottomed out for that day at $104.08.

Apple investors have been buying the stock well in anticipation of the new iPhone models expected to be unveiled this coming September. The premium 10th anniversary Apple iPhone 8 is expected to attract plenty of demand with its new look featuring a 5.8-inch (or perhaps a 5-inch) OLED screen covering the complete front of the phone. There is talk of sensors replacing the side buttons, and Touch ID is believed to be embedded under the front glass. Wireless charging will be a new feature available for the iPhone 8, which will carry a dual-camera setup on back.

The stock has also received ammunition for its run higher from Apple's fiscal first quarter earnings announcement. Released on the last day of January this year, the report noted that Apple had sold a record 78.3 million iPhone units in the three months from October through December. The stock is up $11.94 or 9.8% since the release of that earnings report. Helping out with today's gain of $1.17 (.89%) was a recommendation from Goldman Sachs. Analysts at the investment house hiked its target on Apple to $150 based in part on its increased confidence in a strong upgrade cycle for the iPhone this year.

Apple now has a market capitalization (share price multiplied by number of shares outstanding) of $698.89 billion. That makes it the highest valued company in the world.

source: CNBC

FEATURED VIDEO

54 Comments

1. LebronJamesFanboy

Posts: 671; Member since: Mar 23, 2013

Awesome. I still want Tim Cook gone though lol

9. AllFanboysMatter

Posts: 206; Member since: Feb 14, 2016

It's simple to know why Apple does well year after year: They make quality products. Not to say other competition these days aren't making comparable products, because the are without a doubt. However, it's very obvious that Apple has a strong reputation in this regard, and many of its customers refuse to try any other brand because of this strength. I have used iPhones ever since the very first one, and let me tell you, they always have worked nearly flawlessly with their respective releases. Phone quality, battery life, craftsmanship, performance...name nearly any area, and iPhone would perform incredibly well. The share price is up today because people have faith in Apple's quality products. They have faith that apple will continue to be the best tech company in the world for years to come and have no worry in sight of Samsung, Google or any top Android manufacturer stealing it's hard-earned customer base. Brand name is one of those intangibles that only improves for manufactures that bust their butt everyday to improve it. I'll give you a perfect example of why Apple is so great, and how these intangibles come to play. I dropped my iPhone 3g in the toilet. Guess what, the phone still worked. 2 days later, I dropped it in my Jacuzzi. The phone finally had died. I take it to the apple store and wait for assistance, and before I even open my mouth to tell them exactly what happened, the manager gave me a free replacement unit. I even explained to him the two separate occasions and he simply looked at me, smiled, and said: "This one is on the house, sir". Where has this level of customer service and customer care gone? I don't see too many other companies even outside of the tech realm showing this level of value and care to its loyal customers. For me, this was a game changing moment in which I came to a huge realization: I will forever own Apple products. Not as a fanboy, but as a tech owner who can appreciate the best care possible, even without a true warranty (Apple Care). This is what other manufacturers must see in Apple. Calculated into that stock price are the intangibles such as the one I listed. Samsung and other competitors can't come close to these intangibles. So many have seemed to have focused so much on the damn product or the damn marketing or the damn operations of the business….that they forget about the brand they represent, and how its interpreted. It's time for companies to come out of the dark and address these serious issues. The 3.5mm headphone jack removal didn't even cause a slight decline in potential sales because customers know what they are getting with Apple products. They know what they are getting because they want to come back for more greatness and innovations. I cannot wait to see what Apple has in store for the future. The new iPhone is already shaping up to look great, and even if it doesn't, I'm going to purchase it because I have found a brand to support and believe in.

10. AllFanboysMatter

Posts: 206; Member since: Feb 14, 2016

It's time that other people understand that it's not all about spec sheets. How many times to these other manufacturers come out with phones that are supposed to blow other phones out of the water, but they come up short due to some serious issue. They could explode, have some killer stupid issue, that ruins the entire experience. Apple is the master of experience, and most people who own apple products know this. Yes, they are consistently late with implementing new tech. But guys, it's clearly for a reason. They want to wait until it's at a point in which it's perfect for it's users to use. Beta products are the worst thing you can release to average joe users. So keep doing your thing Apple. Take your time. And Tim Cook? It's time for you to dream a little more so you can slightly fill the shoes that Steve Jobs has left you. They are HUGE shoes to fill, but you can do it with patience and persistence.

13. Finalflash

Posts: 4063; Member since: Jul 23, 2013

What a waste of text space. Please leave the fluff pieces to PA.

18. AllFanboysMatter

Posts: 206; Member since: Feb 14, 2016

You are LITERALLY a waste of space. How dare you come at me saying it's a waste of text space. What are we here for? what are you here for? dummy We are here to talk about tech and share opinions. If you know you don't want to be a part of this, then you need to get the hell out. Tired of people like you getting on people for absolutely no reason just because you have nothing else better to do in your life. Attacking people without evidence is completely stupid. So thank you for leaving a waste of space that contributed to nothing except the loser life you are currently living. I feel sorry for you.

21. Z.....

Posts: 355; Member since: Feb 01, 2017

What I find particularly troubling is that Apple doesn’t appear to be trying to defend their brand and is assisting in its destruction. Throwing the celebrities with the nude photos under the bus is only one in a series of incidents where Apple itself seemed to try to make buyers of Apple products appear foolish. They had Antennagate where thy tried to convince us to hold our phones like tea cups so the antenna would work, they had the Olympics ads that wanted to promote Genius Bar employees but instead made Apple users look mentally challenged, and even though it was obvious folks liked bigger screens, they suggested Apple users were too dumb to see the advantages. I guess the latest announcement of larger phones suggests Apple users actually aren’t that dumb after all. So ask yourself, when you look around, do you think the smart people buy Apple products or the not so smart people? If you are like most, you are likely drifting or already in that latter class. Long term, this is a problem for Apple.

26. NoToFanboys

Posts: 3231; Member since: Oct 03, 2015

Wow, just like Techie, you're stupid enough to think that people will read your comments that are much longer than the article itself.

30. Z.....

Posts: 355; Member since: Feb 01, 2017

Nothing wrong with a long answer. It's more formative and detailed explanation. He ain't stupid, more like you are...... That's like watching Mkbhd , with his chappy short video that hardly goes in depth reviews with his short 6 minutes video. Where others review a product at 15 minutes.

50. NoToFanboys

Posts: 3231; Member since: Oct 03, 2015

Okay, found the stupid one who would actually read Techie-long essays.

36. darkkjedii

Posts: 31039; Member since: Feb 05, 2011

He's ragging on Marquese, and dude is a millionaire, professional athlete, college grad, and tech expert. Z.... is a stupid racist internet troll, looking for attention.

51. NoToFanboys

Posts: 3231; Member since: Oct 03, 2015

Yeah he just wants attention, and he's also jealous LOL. MKBHD is a great reviewer, definitely one of my favorites.

31. Z.....

Posts: 355; Member since: Feb 01, 2017

"Let me answer you from him for you."........ Apple is a status brand. When you see the prices of the unsubsidized phones approaching $1,000 and realize that a lot of folks spend less on their cars then on their iPhones, now you realize that many, if not most, are buying Apple for the brand. And there are far more people who get excited about brands than those that get excited about technology. However one of the things that can damage a brand tied to status over time is the slow bleed of visible, low status buyers using a product. Cadillac almost destroyed themselves with this problem a number of years ago when they decided to launch an ad campaign that showcased the folks that drove old Cadillac cars. Once they collected the data they found that a lot of the folks who drove old Cadillac’s weren’t exactly pillars of society. I expect they found an uncomfortable number who actually lived out of their old cars. Once they got the initial results from the campaign in, they killed it and I expect the folks that came up with the idea now have lucrative careers flipping burgers someplace. If you watch how the luxury car brands market, they focus on attractive, rich people as their ideal customer because folks aspire to be like them, they don’t focus on the folks that probably can’t afford the cars even though these folks more likely to represent the actual buyer. So a lot of the reason why Apple can get nearly $1K for some of their phones and tablets is because they maintain the fiction that this is what influential people buy and they have an inordinate number of influential buyers (many of which likely get free phones from the company, it’s good to be influential).

52. lyndon420

Posts: 6789; Member since: Jul 11, 2012

Poor guy was just patting himself on the back, and you destroyed him with two short sentences lol. Look how upset he got...started calling you names etc - $10 says he's a leftist lol.

14. fyah_king unregistered

Thanks for buying my iPhones.:)

16. Z.....

Posts: 355; Member since: Feb 01, 2017

Typical Apple fan boy.

17. Z.....

Posts: 355; Member since: Feb 01, 2017

1) For one, share price alone doesn't determine how valuable a company is deemed, that's market cap (share price x number of shares outstanding). 2) Splitting the stock lowers the share price, making it accessible to more people. 3) The stock market has not been reacting rationally to Apple's share price for quite some time now, and Apple may be trying to counteract that. One reason could be the seemingly high nature of Apple's stock price. At slightly under $700, you are giving people the impression that it is already high enough, can't go any higher, and can only drop. This puts downward pressure on the share price to fall, despite Apple posting higher profits every quarter (which in theory should cause the stock price to increase). By splitting the stock, the price is now under $100 each. This plays with people's mindset that since the share price is so low, it can only go up. Yes, it doesn't make sense, but people were never completely rational to start with. 4) In addition, Apple is starting to pay dividends, making their stock a rather reasonable investment. The more people want to buy a stock, the greater the demand for it, and the higher the price might become. It has nothing do with products, but in this context, it makes a lot of sense from Apple's POV.

20. LebronJamesFanboy

Posts: 671; Member since: Mar 23, 2013

"It has nothing do with products" False. Improvements in stock performance do have something to do with products. The improved stock performance is currently being driven by improved iPhone sales year-over-year. iPhones are products, and positively impacted the stock price. Improved sales can be due to the overall quality of the product itself. He may be a fanboy, but he is at minimum partially right in this respect.

49. Nine1Sickness

Posts: 896; Member since: Jan 30, 2011

Damn essay! You are Juan bad Hombre.

2. Ninetysix

Posts: 2964; Member since: Oct 08, 2012

cast 'summon' Finalflash

3. kiko007

Posts: 7493; Member since: Feb 17, 2016

I'm calling him the spin doctor from now on. Can't wait to see how he rationalizes this.....

6. Finalflash

Posts: 4063; Member since: Jul 23, 2013

Well since you summoned so nicely I might as well explain this, I assume you fanboys here aren't well versed in the stock market and how it works. Basically this has more to do with economics than any one company. All of the tech heavy companies like Apple, Alphabet, Samsung, MS, etc. are trading at all time and record highs at the moment. This is because in the last recession in 2008, the US federal reserve gave the banks trillions to keep them floating. This money obviously didn't go to the poor people and what do rich people do with their piles of cash, they invest it in places like the stock market. Tech was literally the only sector that didn't suffer a catastrophic failure last time and only significant grower since. This has made people throw more more into tech inflating the price of companies by billions in their stock value. The Dow Jones is at a record high about 21000, 7000 more than the last recession record high. So all signs are now pointing at another economic correction and a recession worse than the last one coming, probably, this year. That is all. Nothing to do with any real progress, just inflation by bandaging a terrible situation without curing it's cause.

33. kiko007

Posts: 7493; Member since: Feb 17, 2016

…………………………….................​..................................................​..................................................​..................................................​..................................................​.............................'Kay.

41. Z.....

Posts: 355; Member since: Feb 01, 2017

Come on kid grow up.

46. Finalflash

Posts: 4063; Member since: Jul 23, 2013

Be nice, that explanation must have gone over his head. It can't be easy living with whatever it is that he has.

47. kiko007

Posts: 7493; Member since: Feb 17, 2016

Says the dude referencing the recession of 7 years prior as standing in today's stock exchange.

54. lyndon420

Posts: 6789; Member since: Jul 11, 2012

It obviously did lol - "..............." didn't really offer much of an argument.

53. lyndon420

Posts: 6789; Member since: Jul 11, 2012

I always look forward to your comments kiko...always informative and full of insight. :)

24. Z.....

Posts: 355; Member since: Feb 01, 2017

As long as Apple continues to make simplified devices, it will never be out of the line of fire for catering to slower people, like "stupid dumbass idiots." I find it actually hurts the newer generation because kids are so lazy that they are fine using an device without knowing anything about it. Without having any idea how a device works, means they will most likely not push for innovation in those devices. This sort of thing also happened with gaming as it moved back from PC to consoles and now we have a 'next generation of consoles' that really isn't next generation.

34. kiko007

Posts: 7493; Member since: Feb 17, 2016

You sound EXTREMELY desperate. Go get some pussy (or ass.....no judgements)!

37. darkkjedii

Posts: 31039; Member since: Feb 05, 2011

Yawwwwwwwn on post 24.

Latest Stories

This copy is for your personal, non-commercial use only. You can order presentation-ready copies for distribution to your colleagues, clients or customers at https://www.parsintl.com/phonearena or use the Reprints & Permissions tool that appears at the bottom of each web page. Visit https://www.parsintl.com/ for samples and additional information.