In a January earnings report, Apple returned to revenue growth, nudged along by more expensive new iPhone models. That helped the Cupertino company gain favor on Wall Street, with analysts at Goldman Sachs
and UBS
sharing positive outlooks on Monday, in anticipation of an iPhone “supercycle” this fall.
Apple’s also been lifted by a rising tide. U.S. markets hit a record high across the board on Monday, pushing Apple within $1 of a new all-time intraday share price.
Despite nearing record-high share prices, Apple isn’t quite as close to beating its all-time high market capitalization, since market value is determined by stock price multiplied by shares outstanding. Apple currently has 5.26 million shares outstanding, compared to the 5.76 million shares outstanding they had in March 2015, according to Factset, as the company has approved share repurchases.
Source: Factset
