Shares of Apple’s stock closed in new highs Monday, riding a post-earnings rally with a more favorable outlook on Wall Street.
Apple closed at $133.29 a share, surpassing its record closing high price of $133 that was set in 2015. It has yet to break its all-time intraday high of $134.54 a share. The record breaking stock shares was hit that came after Goldman Sachs raised its price target on the stock on Monday, mentioning Apple’s #D sensing technology. UBS also released a note on Monday predicting the market is undervaluing Apple’s services Business.
Apple’s stock has risen nearly 10 percent since the close In Jan. 31 when Apple released its quarterly earnings. In a Report that Apple released it stated that the company broke from a losing streak, posting the first year-over-year revenue increase after three difficult quarters.
The Company’s CEO, Tim Cook, stated that investors in January were especially strong demand for the iPhone 7 Plus, that is made up a higher than expected shares of sales. Apple is not the only tech company to close in surprising highs in 2017 wherein fact the market climbed higher this year.
Some of those are Microsoft, Alphabet, Netflix and Facebook have all hit an all-time intraday high this year. Apple was up by more than 15 percent this year and is again expected to meet one of the biggest boosts because of the Trump Administration’s tax policies regarding the Foreign cash repatriation.