Shares of Apple hit an all-time high closing price on Monday, closing at $133.29. The stock’s previous best closing was $133, set on February 23, 2015.
While the price is the stock’s record for a market closing, it’s not quite the actual highest level the stock has ever attained. The stock’s true all-time high of $134.54 set on April 28, 2015, before falling again later in the day.
Apple stock has been on a steady rise over the last four months or so, performing particularly well since the company reported record financial results for the fiscal first quarter of 2017. Apple reported revenue of $78.4 billion and net quarterly profit of $17.9 billion, in late January. The stock rose by over $7 in a single day following the financial results.
Apple’s stock has rebounded particularly well from last May when it hit a 52-week low of $89.47.
MarketWatch reports Goldman Sachs has raised its 12-month target for AAPL stock from $133 to $150, citing high expectations about the iPhone 8.
… Analysts at Goldman Sachs said they expect the company’s 10th anniversary iPhone, due in September, to have software enhancements such as 3D sensing technology that are crucial to augmented reality. They believe augmented-reality features will be a “significant step-up in innovation” compared with the prior two product cycles.
