Apple's Stock Hits Record High
Stock Climbs Past $200 Mark
Apple Inc.'s AAPL stock reached a new all-time high in intraday trading, surpassing the $200 mark. This surge comes amid a strong performance by tech stocks in recent months, with investors betting on Apple's continued growth potential.
Strong Demand for iPhones and Services
Analysts attributed the stock's rise to strong demand for Apple's iPhone 12 lineup and its expanding services business. The company's recent earnings report showed a surge in iPhone sales, while services revenue, which includes the App Store, Apple Music, and iCloud, also grew significantly.
Analysts Remain Bullish
Analysts remain bullish on Apple's prospects, citing its strong brand loyalty, innovative products, and growing services ecosystem. Wedbush Securities expects the iPhone supercycle growth story to continue into 2022, while other firms believe Apple's stock has further room to run.
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