Despite Nikkei Asia‘s best, although highly repetitive effort, Apple stock increases for the 10th consecutive session for the first time since 2020, shrugging off reported iPhone SE production cuts.
On the heels of its milestone Academy Awards victory, Apple Inc. shares notched their longest winning streak in more than a decade Monday.
Apple shares ended slightly in the black Monday, gaining 0.5%, for their 10th consecutive trading session of gains. The stock picked up its longest winning streak since October 2020, when it also rose for 10 consecutive sessions, according to Dow Jones Market Data.
The Nikkei report didn’t strike Raymond James analyst Chris Caso as particularly concerning, since the June quarter tends to be a slower one for Apple and the iPhone SE isn’t the company’s marquee device.
“Net, we never worry too much about production changes in June, since trends in June are generally not well-correlated to trends for the much more important new phone launch in the second half,” he wrote.
MacDailyNews Take: Wow, it’s been quite awhile since Apple stock racked up increases in ten straight sessions; obviously a rarity. You’d think a stock like Apple would’ve put together several 10-trading-day rallies per decade.
Hopefully, this one goes to eleven!
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