Apple shares near record as iPhone demand optimism grows

Ryan Vlastelica for Bloomberg:

Apple Inc. shares rose on Tuesday, with the iPhone maker returning within striking distance of record levels as optimism grew that the company’s newest iPhone models were seeing strong demand.

Shares rose as much as 1.9%, easily outperforming the broader S&P 500 information technology sector, which was down 0.5%. The gain was just the latest move higher for Apple, which is up more than 17% from an August low and surging nearly 60% from a January low.

At current levels, the stock is about 2.5% below an all-time closing high that was reached about a year ago.

The latest optimism came after positive comments from Chief Executive Officer Tim Cook, who spoke with the German newspaper Bild in an article dated Sept. 30. Cook, according to a translated version of the article, said that sales of the iPhone 11 had seen a “very strong start,” and that he “couldn’t be happier” with the launch.

MacDailyNews Take: Apple’s market cap is currently $1.015 trillion.

As we wrote earlier today, Apple’s all-time intraday high was set on October 3, 2018 at $233.47. Apple all-time closing high was set the same day at $232.07. Apple’s 52-week low was $142.00 set on January 03, 2019. The next morning, prior to market open, we wrote:

If you can spot overreactions in the market, you can profit from them.MacDailyNews, January 4, 2019

Apple shares are up $86.84 in the past nine months.


  1. Today, an analyst said that iPhone sales will be disappointing later this year. Boom! Apple then lost most of the earlier day’s gains. Big investors appear to have little confidence in Apple or they would have ignored what the analyst said. Considering Apple doesn’t report iPhone sales anymore, the major problem is that certain analysts are still focusing on iPhone sales without regard for Apple’s other revenue streams. Why, you ask? Because they believe everything else Apple does is tied tightly to iPhone sales. It’s weird why they won’t let it go. Still, it seems as though the iPhone is selling briskly and should do well for the holidays. There are a lot of different models of iPhone to buy, so maybe the older models will sell OK at a lowered price.

    I’m not concerned what one analyst has to say, but I just find it odd that what was said would carry that much weight when it was basically speculation and not a fact.

    1. That really isn’t the point. The stock market is all about hype and rumors.
      The only thing you need to know is buy low sell high. And don’t listen to some schmuck who is try to make people sell for no reason.
      Today I got an email from some advisor trying to forment concerns over a possible impeachment. These f****ers will try anything to scare investors.

      Btw I last bought Apple stock with cash in 2008. Since then just dividend reinvestment. Haven’t sold yet and won’t until I retire or decide that Apple is not a good investment.

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