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%.
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!