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Apple Shares Hit Record High, Up 2.54%, Market Cap Reaches $3.6 Trillion

Oct 15, 2024, 02:06 PM

Apple Inc. (AAPL) shares reached a new all-time high on October 15, 2024, rising 2.54% in pre-market trading and continuing to climb throughout the day. The stock's surge has been attributed to strong market confidence in the demand for the upcoming iPhone 16, as well as anticipation surrounding Apple's upcoming Intelligence event at the end of October. The company's market capitalization hit a record $3.6 trillion, further solidifying its position as one of the most valuable companies in the world. Apple broke through the 234.8 gap zone and cleared a weekly range. This milestone comes as Apple competes with Nvidia (NVDA) for the title of the most valuable company globally.