Apple has found its groove again.
Shares of the iPhone maker reached $ 133.82 in early trading on Monday, leaving Apple at less than $ 1 high commercial exchange of $ 134.54, reached in April 2015. Apple’s stock ended the day at $ 133.29, surpassing its record closing price of $ 133, set in February 2015.
The rise in values is pushing apple ( with a market cap of $ 700 million, it reaches renewed optimism for iPhone. )
Goldman Sachs on Monday raised its stock price target, noting the possibility that important “new features,” such as “3D detection,” could be incorporated into the next iPhone model, according to a note from the company. investor provided by CNNMoney.
Apple’s previous high was set six months after it launched the redesigned iPhone 6 and 6 Plus, kicking off CEO Tim Cook described as the “mother of all updates.”
Since then, however, Apple has closed its tradition of reviewing the iPhone every year. The newest models on the market today look almost identical to the iPhones available in late 2014.
The long wait, combined with this year that marks the iPhone tenth birthday, has only raised expectations that Apple will be about to significantly review its smartphone and reclaim demand.
Apple Annual sales fell in 2016 for the first time since 2001, as iPhone sales, still most of its business, declined in three consecutive quarters.
Apple even cut your CEO’s salary 15% due to the company’s failure to meet its performance targets in both sales and profits.
But that losing streak was over.
apple sales began to grow again in the December quarter, driven by stronger demand for the iPhone, especially for the larger and more expensive iPhone 7 Plus.
The company sold 78.3 million iPhones for the quarter, setting a new record. At least that may be due to Samsung smartphone memory disorder.
Mark Moskowitz, an analyst with William Blair, wrote in an investor note this month: “Samsung’s Note 7 struggles have probably helped.”
The iPhone isn’t the only reason Wall Street gets excited about Apple. There is also President Trump.
Despite Trump colliding with Apple during the campaign, investors are optimistic now that Apple will benefit from at least one Trump proposal: cut cash taxes that U.S. companies return from their accounts abroad.
Apple currently has $ 230 million in cash in foreign accounts If Trump and Congress make it cheaper for Apple to get that money back, it could be used for acquisitions and rewards.
CNNMoney (New York) First published on February 13, 2017: 12:24 ET