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Apple Shares Hit Record High of $202.39, Up ~5% After WWDC

Jun 11, 2024, 03:00 PM

Apple Inc. ($AAPL) shares surged to a new all-time high of $202.39, extending gains by 4.8% following their recent Worldwide Developers Conference (WWDC). This performance marks a significant breakout, with Apple trading more dollars than Nvidia ($NVDA) for the first time in 2024. Apple’s rise is attributed to its leadership in net premiums and its position as the top company in the S&P 500, despite recent competition from Microsoft ($MSFT) and Nvidia. The stock's performance has also been bolstered by an upgrade from DA Davidson, which raised its price target for Apple to $230 from $200, and the introduction of new AI features enhancing the value of its devices. Apple shares are up ~5% while the Nasdaq remains flat.