Apple shares surge Monday, outperform market

Apple shares rose 6.35% to close at $124.40 on Monday, for what proved to be an all-around favorable trading session for the stock market, with the NASDAQ Composite Index rising 2.56% and the Dow Jones Industrial Average rising 0.87%.

Image: Apple logoMarketWatch:

This was the stock’s second consecutive day of gains. Apple Inc. closed $13.56 below its 52-week high ($137.98), which the company reached on September 2nd.

The stock outperformed some of its competitors Monday, as Microsoft Corp. rose 2.59% to $221.40, Alphabet Inc. rose 3.58% to $1,564.59, and International Business Machines Corp. fell 0.45% to $127.21.

Trading volume (236.1 M) eclipsed its 50-day average volume of 175.3 M.

MacDailyNews Take: That’s quite the lead-in for Apple shares to tomorrow’s big event which marks the beginning of Apple’s multi-year iPhone super cycle!

22 Comments

  1. It’s always welcome to see days like this where Apple outperforms all the other FANGs. I’ll really be happy when Apple’s P/E moves past Microsoft’s P/E. It had done that for a few days awhile back when Apple touched around $135, but it didn’t last for long. I think with bundled AppleOne services and Apple Silicon Macs, Apple should be able to hold the $2T market cap next year, but we’ll have to wait and see. Yeah, good luck to fellow shareholders.

    1. As Trump’s numbers tank, the market goes up in anticipation of rational leadership. Always thought the senate should have grabbed the chance to toss Trump in January, and offer the voters a rational candidate. They refused and may now pay the price. Could’ve saved lives too. Pretty sure Pence would’ve handled Covid better if he hadn’t been such a toady.

      1. Actual since the Harris Pence debate Trumps numbers are starting to turn. Remember the polls are skewed to Democratic’s so realistically trumps just needs to be within 4-6 points. But time will tell. Besides Trump still had plenty of time to put his foot in his mouth 🙂 But the tide is turning.

        Harris is the real Democratic nominee and she has low support from her own party. Dems mostly back her because they hate trump. Republicans own the enthusiasm, Democrats own the hate. It’s gonna be a horse race. Grab the popcorn

        On sept 18, 2020 Trump had an all time approval high of 53%

        But after the debate with Biden

        On October 7, 2020 Trump approval rate had dropped to 44%

        After the Pence Debate

        On October 12, 2020 Trump approval has risen back to 49%

        Trump approval numbers have been trending up everyday since after the debate

        We know the Dems VP pick is the real presidential candidate. If only the republicans could swap pence for Trump.

      2. Hiram, you are spouting FALSE TIRED political Democrat talking points to defeat the president. Let’s look at one major fact the president closed the borders early on and was excoriated by Biden, Pelosi and the liberal media. That saved thousands of lives and the president does not receive PROPER credit from Democrats and the media to this day. Well, the president does not need your permission or approval that you have already proven will never come.

        Regarding the poll numbers similar to when Trump ran against Hillary, we shall see on election day…

        1. Your “one major fact” isn’t true.

          Trump did not “close the borders early on.” Over forty-five other countries had restricted travel from China before the US. The international air carriers had announced the suspension of China-US flights before Trump acted. He did not prohibit flights from Hong Kong or Macau, which continued to bring thousands of Chinese into the US. He did not prohibit travel by US citizens, lawful residents, or their family members. Diplomats and aircrew were exempt.

          There was no effort to isolate any of these tens of thousands of legal entrants, who were allowed to use domestic flights and mass transit to reach their ultimate destinations, where there was no follow-up to see if they were self-isolating.

          The same thing happened later in the “travel ban” for Europe, which only included a limited number of countries (and not all of those with high infection rates), and was only instituted after community spread was already overwhelming hospitals in the Northeast of the US. Again, there were broad exemptions from the “ban” and no effort to enforce isolation for the permitted entrants.

          1. I repeat, “Let’s look at one major fact the president closed the borders early on and was excoriated by Biden, Pelosi and the liberal media. That saved thousands of lives and the president does not receive PROPER credit from Democrats and the media to this day.“

            Your tedious deflections what this one did or that one did not do is meaningless…

            1. I agree that what President Trump did was entirely meaningless. I’m surprised that you agree.

              I think that you would discover that most media criticism of the “travel ban” was pointing out that it was too late and too porous to do any good. It also restricted necessary travel by health professionals. The references to “xenophobia” were not aimed at the “ban” but at President’s efforts to shift the blame for America’s failures to China, long after the virus had escaped and become a global problem.

            2. Trumps only talking point when trying to defend his hopeless Covid record is the “closing” of travel from China. Closing only delays the start of the spread and accomplishes nothing if the time is not used to prepare.
              Canada did not close to China till later, yet simply not having leadership that ridicules those who social distance and wear masks means that proportionally twice as many Americans have died.

            3. “I agree that what President Trump did was entirely meaningless. I’m surprised that you agree.”

              Only liberals enjoy this dishonest twisting of words, TxUseless. Since you are purposely not grasping the meaning to make a snide joke, I was talking in general about your many tedious DEFLECTION points that are meaningless, certainly NOT the president.

              An honest person would agree the virus caught all countries by surprise worldwide and not 100% of those countries contracted the virus directly from China adding to confusion everywhere, not just the USA.

              You are not interested in FAIR TRUTH. Your only interest is tediously slamming the president at every turn of a phrase and very obvious for all to read. Shame on you…

  2. From all I’ve been reading…the market cares little if an R or D is in charge. Ds bring the likelihood of $$ “infusions” and the Rs cut taxes and regulations. The markets like either team for different reasons.

    I have read that a Biden win brings a little initial uncertainty, which could cause a temporary drop.

    Biden’s cap gains tax and corp tax increases will cause investors to modify their actions, but the infusions (subsidies, infrastructure and green spending) will supposedly compensate.

    The econ will be a mysterious challenge for both. Inflation to follow deflation?

    The recent gains aren’t iPh 12 specific…all tech has risen solidly.

    1. The recent gains aren’t iPh 12 specific…all tech has risen solidly.

      Ronner can you read,

      AAPL up 6.35 %
      Dow up .87%
      NASDAQ up 2.35%
      MSFT 2.59 %
      GOOG 3.5 %

      It’s clear Apples announcement tomorrow drove the price up. But don’t worry Wednesday the sky will most likely fall and the stock will drop again, only to shoot back up by Friday

      They make money going up. They make money going down … smart investors beat the market by not chasing the tail.

    1. From the article

      ‘The discrepancy between what Foxconn is doing and what it said it would do in its contract has only grown since’ ….

      It’s a CCP China company are we really surprised they would not live up to the contract.

      So it’s actually good that the Democratic’s that lead Wisconsin (governor, senate, house ) have stood up to hold the line. and trump would be one of the first to cancel a such a deal

      Many companies make lcds and Apple is switching to OLEDs, plus Apple diversifies the production line. Foxconn has lost a lot of business back home via japan, South Korea, India and Uk via covid pullout … so maybe this is Foxconn way of realizing the landscape is changing.

      But I bet the TSMC (Taiwan not CCP China) 5nm chip fab factory in Arizona will happen.

      Go Taiwan! And happy Independence Day

      https://www.tsmc.com/tsmcdotcom/PRListingNewsArchivesAction.do?action=detail&newsid=THGOANPGTH

    1. You are right! I am wrong about Foxconn. But regardless of home origin if Foxconn is backing out of agreements then it’s good the Wisconsin is pushing back.

      I’m sorry to wrongly accuse the CCP of negligence on this issue. It is important not to falsely accuse.

      If I find out that Wisconsin is the party to blame then I will gladly change my stance on that too.

      Foxconn has the majority of its factories in China so maybe there is some influence. Apple is very much influenced by its operations in China both good and bad.

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