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Apple Stock Surges 12.6% in Two Days, Second-Best Back-to-Back Sessions, Boosting S&P 500 to Record High

Jun 12, 2024, 03:26 PM

Apple Inc. ($AAPL) has experienced a significant surge in its stock price, rising 12.6% over the last two days. This marks the second-best back-to-back sessions since the Global Financial Crisis (GFC). The rally has been attributed to the company's Chief Financial Officer (CFO) buying back shares at all-time highs (ATHs). This remarkable performance has also propelled the S&P 500 to a record high. Berkshire Hathaway, a major shareholder in Apple, has seen its stock trading relatively flat, implying that other parts of the conglomerate might be undervalued. Apple's 5-year return stands at 328%.