The company's shares shot up 2.28% to a record price of $300.35 at the bell and have continued to rise to over $301 in after market trading.
A year ago, Apple was trading at around $142. Investors were concerned about slowing sales, production cuts, and lacklustre performance in China. Now a strong economy and growing revenue from wearables and services like iCloud, Apple TV+, Apple Music, and AppleCare have led to renewed optimism.
Additionally, Apple is poised to release a 5G iPhone by the end of the year which could lead to a significant upgrade cycle as customers look to benefit from faster download speeds, real-time responses, and enhanced connectivity.
Check out AAPL's impressive run in the charts below and please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more Apple news!