Apple shares hit record high ahead of new MacBook rollout
Apple is having a good year.
Stocks of the tech giant hit a record high Wednesday, having gained 66 percent in 2019. That’s after the brand hit another high Oct. 11, when shares crossed the $233 mark.
Shares of the company were hovering around $263 as of press time.
The new record comes after Apple released the latest edition of its iPhone, the iPhone 11, the second edition of its trademarked AirPods and launched its own streaming service, Apple TV+, to compete with the likes of Netflix, Hulu and Disney+.
“We concluded a groundbreaking fiscal 2019 with our highest [fourth-quarter] revenue ever, fueled by accelerating growth from services, wearables and iPad,” Apple CEO Tim Cook told Reuters. “With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-canceling AirPods Pro, the arrival of Apple TV+ and our best lineup of products, we’re optimistic about what the holiday quarter has in store.”
Americans are expected to spend a whopping $87 billion on the holidays this year.
Here’s a look at Apple’s latest MacBook, which could help catapult the stock even more:
The MacBook Pro starts at $2,399 and features an immersive retina display and a Magic Keyboard that uses a refined scissor mechanism to provide a more comfortable typing experience. It’s also said to be up to 80 percent faster than any previous Apple computer.
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“With its 16-inch retina display, 8-core processors, next-gen pro graphics, even better thermal design, new Magic Keyboard, six-speaker sound system, 100Wh battery, up to 8TB of storage and 64GB of fast memory, the 16-inch MacBook Pro is the world’s best pro notebook,” Tom Boger, Apple’s senior director of product marketing, said in a statement.
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Apple’s stock is up more than 41 percent on the year and 67 percent year-to-date.
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