Apple Stock Closes At All Time High On High Hopes For IPhone 8

Posted: Feb 14 2017, 5:11am CST | by , in News | Apple

Apple stock closes at all time high on high hopes for iPhone 8

Stock closed at $133.29, slightly above the previous Apple record

Apple has seen its revenues decline for the last three quarters, but that hasn't stopped investors from grabbing up stock. Shares of Apple have closed at an all time high of $133.29 per share, slightly above the previous record closing number. Part of the reason that Apple's stock price is surging is excitement over the new iPhone 8 that will celebrate the tenth anniversary of the device.

Investors are betting that the next iPhone will be something big. Rumors continue to suggest that the device will have an OLED screen with curved edges and recent massive scale purchases of OLEDs from Samsung Display certainly lend weight to those rumors.

Apple continues to be the most valuable publicly traded company in the world. Much of the revenue that Apple makes comes on the back of the iPhone, even though that revenue has been down. Apple shares have been on the decline on fears that the iPhone can no longer innovate.

That perceived lack of innovation seems to have lessened as the iPhone anniversary nears and investors and consumers are expecting big things. If Apple fails to provide the anticipated innovative iPhone 8, Apple's stock price may feel the wrath of investors. Apple's worth is about $130 billion based on current stock price.

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<a href="/latest_stories/all/all/3" rel="author">Shane McGlaun</a>
Tech and Car expert Shane McGlaun (Google) reports about what's new in these two sectors. His extensive experience in testing cars, computer hardware and consumer electronics enable him to effectively qualify new products and trends. If you want us review your product, please contact Shane.
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