Apple’s closing share price on Wednesday 7 July hit an all-time high of $144.57, putting the company’s market capitalization at an eye-watering $2.4 trillion.
It’s no surprise, really, after a record-breaking quarter earlier this year helped Apple’s sales figures soar despite (or perhaps thanks to) the effects of the pandemic over the past year-and-a-half.
Apple’s next quarterly earnings report is due at the end of July, so we’ll be able to see whether it can keep the momentum going during what is typically a slow part of the year. That’s because customers are reluctant to upgrade with new iPhones just around the corner.
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Despite these impressive figures, Apple Insider notes that Apple’s overall share price this year hasn’t grown as much as some of the other big tech giants. Apple’s gains of 9% in 2021 don’t quite match the gains of the S&P 500 Index as a whole, which stands at 16%.