“In a rough week for stocks, Apple Inc. has soared,” Aaron Kuriloff reports for The Wall Street Journal. “Shares in the Cupertino, Calif.-based company were on track to rise 11% this week, after posting their best four-day streak in more than two years. Apple was the top performer in the Dow Jones Industrial Average on Thursday and the only stock in the blue-chip index to gain during a selloff Tuesday that sent the Dow industrials down 1.4%.”
“Tech stocks in the S&P 500 have risen roughly 10% in the past three months, more than twice the gains of any other group,” Kuriloff reports. “Apple has been a big driver of those recent gains. Excluding Apple would cut the tech sector’s monthly gain through Thursday from 1.5% to 0.2%, according to S&P Dow Jones Indices, which notes Apple remains the biggest company in the index by market cap.”
“Apple’s 6.7% climb between the new phone’s unveiling and Thursday’s close is the stock’s best performance over the past five years in the gap between the announcement and the launch, according to data from Bespoke Investment Group,” Kuriloff reports. “Since the iPhone first was unveiled in 2007, shares have gained a median of 4.3% in that window, climbing seven times and falling three, Bespoke says.”
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