Apple just broke its own record to become the most valuable publicly traded company of all time
Apple
Shares of Apple opened at a price of $149.06 per share on Monday. With 5.2 billion shares outstanding, Apple's market cap was $776.60 billion.
That beats Apple's last market cap peak, set back in February 2015 at $774.7 billion.
Apple's stock has been setting regular record highs for months - 17 times since February, according to the Wall Street Journal. But since Apple has been repurchasing millions of its shares in recent years, Monday is the first time its stock opened at a new market cap high.
Apple reported earnings last week that were in-line with Wall Street expectations and company forecasts. Some Wall Street analysts raised their price targets after Apple reported its first quarter earnings, with one bullish analyst setting a price target that would value the company at over $1 trillion.
Apple investors hope that the redesigned iPhone, expected to launch this fall, could spur a "super cycle" of upgraders and a sales boom.
Apple's stock is on a tear. It's up 29% so far this year.
Markets Insider
Visit Markets Insider for constantly updated market quotes for individual stocks, ETFs, indices, commodities and currencies traded around the world. Go Now!
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema
- SC rejects pleas seeking cross-verification of votes cast using EVMs with VVPAT
- Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh
- Deloitte projects India's FY25 GDP growth at 6.6%
- Italian PM Meloni invites PM Modi to G7 Summit Outreach Session in June
- Markets rally for 6th day running on firm Asian peers; Tech Mahindra jumps over 12%