Apple's Stock Price Hits a New All-Time High [Updated]

[MacRumors]

Roughly four months after hitting an all-time high just before financial markets and economies faltered in the face of the current public health crisis, Apple's stock price has returned to those levels and has set a new all-time high today.

Apple's previous intraday high of $327.85 was set on January 29, and that high-water mark was surpassed just a few minutes ago as it hit $328.00 before pulling back slightly. Apple's share price had fallen as low as $212.61 on March 23 before beginning a fairly steady march back up. The company's all-time closing high is $327.20, set on February 12.

Apple is up over $4.00 today amid broader market gains as U.S. employment numbers for the month of May released today came in with an unexpected increase.

Update 1:10 p.m.: Apple's stock also set a record-high closing price of $331.50 after hitting an intraday high of $331.75 shortly before the close.

Article Link: Apple's Stock Price Hits a New All-Time High [Updated]

 

[newyorksole]

I’m surprised, but also not surprised. Apple will thrive regardless. Excited to see what they have in store for the rest of the year.

 

[ipponrg]

The way the stock market is moving, should be no surprise.

 

[SoGood]

What logic is there with this AAPL price and remainder of the market? Losing it apart from the Feds pumping liquidity into the system.

 

[zorinlynx]

Anyone else surprised to see the market doing SO WELL given the fast that the US is going through a major crisis of disease and unrest?

It just seems odd that investor confidence would be so high right now.

 

[Act3]

What logic is there with this AAPL price and remainder of the market? Losing it apart from the Feds pumping liquidity into the system.

inflation... look at the feds balance sheet since march. almost 3 trillion dollars created out of thin air

 

[I7guy]

FWIW, AAPL past MSFT in market cap.

 

[newdeal]

AAPL to me isn't a buyable stock. The company is good but there is a history of them outperforming. Which means that people expect it. Which means if they outperform the stock doesn't get a huge bump and if they under perform it tanks. With so many suppliers being in China, and with their products being thought of as a luxury item, I know the company will be fine but I am not convinced that it is a stock to buy. Many stocks have already recovered (for no reason), to me its best to buy those that haven't, which are travel and retail (only the giants like Walmart), especially american companies that are so big that the government won't let fail, or that are involves in military spending like boeing. I would also avoid amazon, the market is excited because they are selling so many good, but they don't make that much money from the sale of goods and generally people buy one item at a time and get free shipping. They make their money from prime when it comes to the retail wing of the company and the more people buy stuff the less prime makes them (due to having to pay for all the free shipping)

 

[Andres Cantu]

Wall Street should like the upcoming services bundle. They are obsessed with services. I hope it’s a good deal.

 

[ipponrg]

Anyone else surprised to see the market doing SO WELL given the fast that the US is going through a major crisis of disease and unrest?

It just seems odd that investor confidence would be so high right now.

The stock market is all futures. Investors/traders love it when the economy is rocky. If there is a 2nd wave hit for Covid19, I'd expect it to rattle, and people will buy when it dips.

AAPL to me isn't a buyable stock. The company is good but there is a history of them outperforming. Which means that people expect it. Which means if they outperform the stock doesn't get a huge bump and if they under perform it tanks. With so many suppliers being in China, and with their products being thought of as a luxury item, I know the company will be fine but I am not convinced that it is a stock to buy. Many stocks have already recovered (for no reason), to me its best to buy those that haven't, which are travel and retail, especially american companies that are so big that the government won't let fail, or that are involves in military spending like boeing

I think AAPL is a long term safe bet for the most part, but there are better gains/rewards elsewhere. Regardless, you don't really have to buy it since 401k and ETF large caps have AAPL in it already.

Regarding travel, definitely agree with that. Bought a few thousand shares of Carnival stock ($8) and Jetblue ($7.50) near their lowest and have triggers in place to exit just in case.

 

[Forti]

AAPL to me isn't a buyable stock. The company is good but there is a history of them outperforming. [...]

Sometime ago I saw a very good comment regarding this:

"Sometimes a very good business is not a good investment".

and this is exactly where apple, microsoft and others "Growth" stocks are right now. Overprices, couple of years of insane growing.

 

[satchmo]

The stock market is all futures. Investors/traders love it when the economy is rocky. If there is a 2nd wave hit for Covid19, I'd expect it to rattle, and people will buy when it dips.

I think it's more a question of when. Personally, I'm keeping most of my money on the sidelines (cash). It's just too volitile for me.

 

[Bug-Creator]

It just seems odd that investor confidence would be so high right now.

I doubt it is really confidence.

Greed combined with the lack of other profitable investment AND massive continued cash infusion is what I would guess.

 

[lunarworks]

Anyone else surprised to see the market doing SO WELL given the fast that the US is going through a major crisis of disease and unrest?

It just seems odd that investor confidence would be so high right now.

The stock market has no connection to reality anymore. It's like a big gambling table for the investor class.

 

[Red Oak]

You think the basement dwellers and haters on MR have any investment in AAPL? Me neither

Keep yelling into the wind

 

[now i see it]

All those invenstors who sold in February to crash the market need to put their money back in some time. And now they are. So what.

 

[DotCom2]

What logic is there with this AAPL price and remainder of the market? Losing it apart from the Feds pumping liquidity into the system.

Yeah, I'm a bit scared that it's doing so well given these trying times. I hope that preverbal other shoe doesn't drop.

 

[Weaselboy]

Anyone else surprised to see the market doing SO WELL given the fast that the US is going through a major crisis of disease and unrest?

It just seems odd that investor confidence would be so high right now.

Unemployment numbers came in far better than I think people expected, so that seems to have really juiced the stock market in general.

New York (CNN Business) — US stocks surged Friday morning after the government reported that 2.5 million jobs were added in May and that the unemployment rate fell to 13.3%.

 

[!!!]

Anyone else surprised to see the market doing SO WELL given the fast that the US is going through a major crisis of disease and unrest?

It just seems odd that investor confidence would be so high right now.

Apple has shown great resiliency with these events. Compared to other phone manufacturers, they lost significantly less sales due to COVID. With the looters, they're able to disable any device that the looters get. And for the protesters, how do you think they're communicating?

 

[wilhoitm]

Sometime ago I saw a very good comment regarding this:

"Sometimes a very good business is not a good investment".

and this is exactly where apple, microsoft and others "Growth" stocks are right now. Overprices, couple of years of insane growing.

Apple will be at $340 by WWDC and maybe $400 years end with the 5G SuperCycle. 90 Billion in buybacks, a stay-at-home virus quarantine thriving stock and also recession proof with 193 Billion cash in the bank, over 1 Billion iPhones need to be upgraded to 5G and that will take over 5 years even at peak production of 500,000 or a half million iPhones produced a day. Also, Interest rates at 0%, the Federal Reserve pumping hundreds of Billions in unlimited QE to counteract COVID-19. Services revenue skyrocketing TV+, AppleCard, AppStore, iPhone upgrade financing, etc... And don't forget wearables, the Apple Watch that detects COVID-19 with an oxygen sensor and also AirPods Pro! It is all right there in plane sight!

 

[adamjackson]

Still not moving my money back into tech. not yet. see you in 2021. Hope I'm not wrong.

 

[roar08]

Still not moving my money back into tech. not yet. see you in 2021. Hope I'm not wrong.

Liquidated my eTrade in Feb at 54% profit. Bought back in in March and up 65% since then, buying AAPL @ 237, TSLA @ 352, and a host of others. Tech was a historical fire sale in March. Unfortunately, you were wrong.

With Apple opening retail in India, 5G, services growth, it's headed for 400+ and 2T.

 

[rtomyj]

What logic is there with this AAPL price and remainder of the market? Losing it apart from the Feds pumping liquidity into the system.

Simple. The market is anticipating Apple will continue to be a good investment. The ticker price now takes into consideration about a year or so. Unless you’re expecting people to stop buying iPhones and any other product or service being offered or to be more responsible with their money if they are struggling (laughable at best), Apple will have more record quarters.

 

[Elwe]

I think it's more a question of when. Personally, I'm keeping most of my money on the sidelines (cash). It's just too volitile for me.

It is good to know yourself and your limits. That said, inflation is real . . . you cannot stay hidden in cash forever.

We all have to keep reminding ourselves and our love ones--the stock market is not the economy. The stock market is not the economy. The stock market is not the economy.

The stock market is not even, probably, the most important liquid asset market to watch. Bonds probably give a clearer picture--if you know how to look at the picture.

Full disclosure, I am one of those that missed the entire downturn because I thought the stock market was too overpriced, generally, at the start of the year. I moved into "safety"--cash and safe bonds, with just a small handful of what I felt would be strong stocks in a recession. I felt like a genius in late March and early April. Since then the stock market has ripped higher. These "zombie" companies are still there . . . with no path to be profitable without debt . . . but still there. Only a handful have declared banckrupty, because . . . the Federal Reserve and the (Congress's and certain funds) insatiable desire to issue more debt. I've always known not to fight the Fed, but come on . . . the Fed made it so that you simply cannot move to cash or long-term treasuries or very safe bonds. You just can't.

The old rules just don't apply, and I was (and still am) too disbelieving to really accept it. At some point, inflation is going to be astronmical, I fear . . . or a real alternative world reserve currency will arise. If/when that happens, maybe I'll look like a genius again. But for the last couple of months, I have looked like a schmuck--I've essentially missed a 50% rise in the S&P because I just cannot seem to really believe that . . . say it again with me folks . . . the the economy, at least for now, really has no bearing on the stock market. For f**k's sake, people--we have a pandemic and lock-down, decades high unemployment, debt levels that equal GDP and growing, a President that seeks to divide, oil futures crashed below $0 a barrel, tons of people in the streets for over a week now, a lot of uncertainty outside of the US including China which seems to be trending toward violently bringing its "wayward children" back into the fold . . . and the stock market is again near record highs. I am an intelligent person, but I am clearly effing clueless in understanding the stock market.

 

[swester]

I think it's more a question of when. Personally, I'm keeping most of my money on the sidelines (cash). It's just too volitile for me.

I can understand the skepticism, but cash right now may very well be the worst possible place to be - with the pumping of the markets by the Fed, we're going to head into a huge inflationary period. Cash is essentially losing money against itself.