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The iPhone make had begun the year as one of the worst-performing mega-cap technology stocks, alongside Microsoft (MSFT). However, in the last month, AAPL stock has rallied 13% to hit a fresh record high in the process.
In late morning trading on May 15, AAPL stock was changing hands at an all-time high of $301.96 on a split-adjusted basis. The shares were up 1% on the day while the broader stock market was in the red, with the Nasdaq (NDAQ) exchange down more than 300 points.
Catalysts for AAPL Stock
Analysts note that there have been a number of catalysts for Apple’s stock in recent months. In addition to the strong first-quarter print, Apple has also announced that a new CEO will takeover in September of this year, when senior vice president of hardware John Ternus replaces Tim Cook.
