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Apple Stock At New Record High

|Includes: Apple Inc. (AAPL)
Summary

Apple shares hit an all-time high Today(Monday 7th-May), and the company moved closer to a milestone — the first $1 trillion market value.

Apple stock climbed to record heights Monday following further bullish comments from billionaire investor Warren Buffett.

The stock has climbed 10 percent this year, roughly double the increase on the Nasdaq.

Let's take a look at Apple stock (NASDAQ:AAPL) daily chart.  It was gaining ahead of Tuesday's quarterly earnings releases (May 1st), and it rallied after the fact. On that Tuesday I  wrote, that "we will likely see a more clear reaction. Probably to the upside, as there seems to be some "sell the rumor, buy the fact" action going on".  And  I was right! The stock reached new record high on Friday, as it broke above resistance level of around $175-180

Courtesy of StockCharts.com

Apple (AAPL) shares rose about 1%, near 185.5, this afternoon trading on the stock market today. Intraday, shares hit an all-time high of 187.67. It now has a market value of about $945 billion, continuing its march toward a $1 trillion market cap.

Apple Stock received a Buy rating from 7 analysts. 0 analysts gave its stock an Outperform rating. 5 analysts say it’s a Hold while 0 analysts provided their expert opinion as Sell.

The stock has climbed 10 percent this year, roughly double the increase on the Nasdaq. It trades 11 percent higher than its 200-day moving average. Its relative strength index hit 68 on Today, inching toward the 70 threshold indicative of overbought conditions.

Courtesy of StockCharts.com

Disclosure: I am/we are long AAPL.