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Shares of Apple Inc.
AAPL,
climbed 0.7% into record territory Thursday, giving them a bit of a cushion to preserve their longest monthly win streak in nine years. The current record closing price is $195.10 on July 19, 2023. The technology behemoth’s stock has now gained 1.0% so far in July, after running up 49.3% amid a six-month win streak through June. That marked the best first-half performance for the stock since it leapt 66.9% during the first half of 2009. If July’s gain holds, it would be the longest monthly win streak since the seven-month stretch that ended August 2014. It would also mark the first time since Apple went public in December 1981 that it started a year with seven-straight monthly gains. The stock’s recent rally comes after Bloomberg reported earlier this week that Apple aimed to keep production of its upcoming iPhone 15 line relatively steady this year despite economic uncertainty, while an analyst said last week that Apple could roll out its new iPhone a bit later than usual. Apple shares have run up 50.7% year to date, while the technology-heavy Nasdaq 100
NDX,
has advanced 19.4% and the Dow Jones Industrial Average
DJIA,
has gained 5.3%.
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