What you need to know
- Apple stock finished Wednesday at a new all-time record high.
- The share price closed at $144.57, up 1.8% for the day.
- Apple will hold its Q2 earnings call later this month.
Apple's share price has closed at a new all-time record high this week, finishing Wednesday up 1.8% at $144.57.
Apple's share price has surged by 6.2% in the last five days alone, and more than 14% in the month of June. The stock opened 2021 at around $129, climbing sharply to a high of $143 in late January before a period of fairly steep decline. The share price has since recovered these losses and has broken another all-time high as of yesterday, although the closing price wasn't quite enough to beat an intraday record of $145 at the start of the year.
As iMore first reported at the end of June, Apple will hold its Q3 earnings call on July 27, where it will announce its earnings for the June Quarter. Apple has previously told investors and analysts that it expects to present strong double-digit growth year over year, however a larger than usual sequential decline on the previous quarter. This is because the previous quarter was a very good month for iPhone because of the delays to iPhone 12, and because of pretty heavy supply constraints which Apple believes could cost it as much as $4 billion in revenue.
Earlier this week JP Morgan stated Apple could sell 226 million iPhones in the next fiscal year thanks to the iPhone 13, which is shaping up to be the best iPhone in recent years. The bank upgraded its target Apple share price to $170, reiterating its 'overweight' rating of the stock. JP Morgan's Samik Chatterjee stated that it was "time to start buying again."
