Why Apple’s stock price surged again on Monday

Apple’s stock price got a big boost last week — rising every single trading day of the week — as Bloomberg News confirmed that the tech giant is “pushing to accelerate development of its electric car” and “refocusing the project around full self-driving capabilities.”

On Monday, Apple’s stock price surged again to a new all-time intraday high of $165.70.

Why Apple's stock price surged again on Monday. Image: Apple Park in Cupertino, California
Apple Park in Cupertino, California

Rich Smith for The Motley Fool:

Investors may be looking past the seasonal device-sales news entirely today, to focus instead on news of Apple’s future electric car. In a note this morning, Yahoo! News quotes Wedbush Securities analyst Dan Ives estimating that there is a “75%, 80% plus chance” that Apple will build the car that Bloomberg reported on last week. Indeed, the analyst goes so far as to say that “this is a matter of when, not if.”

Granted, this is basically the same thing that Bloomberg reported last week. But in Wedbush’s opinion, Apple’s electric, autonomous car might actually arrive as early as 2024, before Bloomberg’s reported 2025 arrival date. Investors seem to like the sound of that — a lot.

MacDailyNews Take: Apple’s stock price remains undervalued.

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  1. Short answer:

    Apple is in the best position to leverage autonomous EVs to reinvent a whole sector (as they tend to do once or twice a decade).

    This new venture could double or triple (or much more) their earnings depending on their go-to-market strategy.

    1. An understated understatement, one might say. If it’s a vehicle close to any definition of true invention, I’d expect something close to 2007’s spark.

      If it’s a dog, I’d be real concerned about Apple’s market “face.”

  2. But…but…

    According to the commenters on this site, Tim Cook sucks and everything good about Apple died when Steve Jobs did. It’s amazing they’re still in business, amirite?

  3. An important factor for Apple’s rise and broad market was the renomination of Fed Chair J. Powell.

    The market ALWAYS likes bathing in easy money and J Powell is considered a “dove.” Though I like AAPLs rise, the Fed’s policies, esp with JPow in 20-21, are destructive for the country.

    Debt is real. Debt has real costs.

    1. Did you feel the same about debt when Trump pushed through his big tax cut on the wealthy and corporations? Or is it only debts from Democratic administrations have you worried?

      1. Yep…although reduced taxes–enabled because spending is sane–yes…the timing of Trump’s tax breaks made little sense.

        Sidenote: your presumptuousness that my previous post must have been related to a Trump supporter is “interesting.” It lends credibility to the thought that liberals/Ds don’t have concerns about spending and debt, except when people on the other side of the aisle make note. There’s little else to lead to that conclusion.Frankly, that’s concerning and sad.

        Btw, I’ll guess you are not aware of the “provisions” directed towards the wealthy in Biden’s recent bill? Not only tasty for the wealthy, but especially so for those in tax heavy states (blue) like NY and CA. The absurd tax levels are causing flight and to add “cover,” all in the country are required to pony-up unreasonable confiscation in those states. That’s real nice.

      2. Since 40% of the country pays no income tax, and the Dem definition of rich is anyone over the poverty line, then yes, under that definition, Trump’s tax cut was for the “wealthy”.

  4. With Marc Newson and Jonny Ive at LoveFrom potentially doing the industrial design on the Apple Car I’m definitely see what they come up with. And while we’re admittedly years away from a reveal my sense is that I’m probably going to want to order the Apple Car Pro and not the Apple Car Nano.

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