Apple Stock Hits All-Time High

Shares of tech giant Apple rose to a new all-time high and the company’s market capitalization passed $4 trillion for the first time. The surge came as Wall Street embraced the iPhone maker’s plans to boost device sales with generative artificial intelligence (AI) technology.

The Apple Stock Hits All-Time High plans were rolled out during the WWDC keynote event on Monday, including the introduction of a number of Apple Intelligent features that are expected to come to the next generation of iOS devices this fall. These AI enhancements could encourage users to upgrade their smartphones to the upcoming models, JPMorgan’s Samik Chatterjee wrote in a note to clients.

Top Forex Prop Trading Firms to Watch in 2025

While Apple’s upgrade plan may help re-ignite iPhone sales, which account for more than half of the company’s revenue, other sources of growth are also helping to drive the stock higher. Analysts have raised their estimate of the earnings potential from the company’s services business, including the App Store, iTunes, Apple Music and its co-branded credit card, as well as from its growing collection of smart home products.

From a technical standpoint, the shares are facing some overhead resistance in the $214 area, which is located near an early-May peak and aligns with troughs on the chart from March and September. A decisive close above this level is likely to drive the stock toward $235.