Apple's Stock Sets First New All-Time High Closing Price in Nearly Two YearsApple's stock set a new all-time high closing price of $133.29 today, eclipsing a previous record of $133 set on February 23, 2015. The stock still remains around $1 off its true all-time high of $134.54 set on April 28, 2015.
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Apple's stock has been
steadily rising over the past four months, particularly since the company reported
record-breaking earnings results, including revenue of $78.4 billion and net quarterly profit of $17.9 billion, in late January. The stock rose over $7 in a single day following the January 31 results.
Apple analyst Brian White of investment firm Drexel Hamilton has persistently said AAPL remains "
one of the most underappreciated stocks in the world," and his target price for the stock is $185. Steven Milunovich of UBS and some other analysts have also said the stock is undervalued in recent weeks.
Apple's stock has rebounded significantly since dropping to a 52-week low of $89.47 last May. The price was likely impacted by Apple's comparably lackluster 2016, which marked the company's first year-over-year decline in annual revenue since 2001 after
51 consecutive quarters of uninterrupted sales growth.
Apple is the world's most valuable company with a market capitalization approaching $700 billion.
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Apple's Stock Sets First New All-Time High Closing Price in Nearly Two Years
