At the time of writing, AAPL was showing $148.70 in pre-market trading, and looks likely to reach $150 any time now …
Apple at $145.64: Third record high of July. Set to open Wednesday morning with its fourth.
The chart [above] ranks the top thirty all-time high AAPL closing prices. Dates in green indicate closing price was an all-time high at that time. Thanks to AAPLInvestors‘ Terry Gregory, keeper of the stats.
While the stock could begin falling again before hitting $150, the one-month trajectory looks encouraging.
There’s been a mix of good and bad news for the company so far this month. On the plus side, Apple suppliers have been reporting strong earnings; tax breaks have been agreed for making iPads in India; and a trio of market intelligence reports point to very high demand for Macs. On the downside, antitrust, taxation, and right-to-repair pressures continue.
But Apple itself seems optimistic, reportedly asking suppliers to produce 90 million iPhone 13 models by the end of the year.
As mentioned by the report, citing sources familiar with the matter, Apple usually orders about 75 million units of a new iPhone for its launch period, which usually runs from September-October to the end of the year. This year, however, the company wants to increase its production by 20%.
The main reason for ordering more iPhone units is that the company probably believes that this year’s phones will have stronger sales as the COVID-19 vaccination progresses around the world. This will also be the second iPhone update with support for 5G networks, which may push even more people to upgrade.
Apple is due to reveal its calendar Q2/fiscal Q3 earnings on July 27.
FTC: We use income earning auto affiliate links. More.