In Apple’s success story, investors are still not giving up.
In mid-August, the price had passed the $ 150 mark and the record rally continues: on the first day of trading in September, the shares had risen to the $ 155 mark. They are likely to remain close to this record level on Friday: they were traded at just under $ 154 on the Nasdaq stock exchange.
As for the gigantic market valuation, the iPhone maker is on the way to the next milestone with the ongoing rally. The first trillion mark was taken by Apple in August 2018, the next two years later in September. The current stage up to the third trillion could now go as fast as the share has already covered half of this distance. At around $ 151, the $ 2.5 trillion mark was crossed in less than a year.
At this walking pace, it would be the logical consequence if the next trillion mark fell by late summer at the latest in 2022. Analysts consider this historic step realistic; Dan Ives from Wedbush Research spoke of it a few months ago. The Apple Car and the iPhone 13 are seen as important sources for even more price imagination. Ives now has $ 185 as a price target – a value at which the stock would have passed the next trillion mark. According to the current status, about 181 dollars are necessary for this.
The record rally in Apple shares supports the belief that they are in an overarching long-term uptrend – with even more headroom. On Monday, before the share jumped up again, the chart technicians at UBS referred to a rising line in the weekly chart. This had given the shares resistance for a year – most recently at the $ 151 mark, which the share was able to sustainably leave behind in the past few days. A “long-term bullish signal” for the UBS specialists.
So far, Apple stocks have risen almost 16 percent this year, which is a tad more than the Dow. Based on the corona crash with a $ 57 low in March 2020, they are again worth more than two and a half times. In 2007, when Steve Jobs rang in the smartphone age with the first iPhone, stocks were still a bargain by comparison. If you adjust the price for stock splits, investors paid less than $ 7 at the time.
