“Apple Inc.’s stock is running higher at the fastest pace in over nine years, as investors continue to reap the rewards of better-than-expected earnings and an endorsement from famed value investor Warren Buffett,” Tomi Kilgore reports for Dow Jones Newswires.
“The stock shot up $2.35, or 1.3%, to $186.18 in afternoon trade Monday, to climb above Friday’s all-time intraday high of $184.25, and head toward its sixth straight gain,” Kilgore reports. “The stock got a 4.4% lift last Wednesday, after Apple reported fiscal second-quarter profit and revenue that beat expectations, and a further 3.9% boost on Friday, after Buffett said he bought 75 million more Apple shares during the first quarter.”
“A sixth straight gain would be the longest win streak since the six-session streak ended Sept. 1, 2017,” Kilgore reports. “The stock has soared 14.7% during the current streak, which would mark the biggest six-session gain since it rocketed 20.0% during the six days ended March 17, 2009… Apple shares have climbed 10.0% year to date.”
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MacDailyNews Take: Ah, there’s nothing like sailing over a stupefyingly lowered bar!