Apple stocks approach record highs

Apple found the groove again.

The iPhone maker’s share price reached $ 133.82 in early Monday trading, putting Apple at a distance of less than $ 1. High during the day Apple’s share price closed the day at $ 133.29, surpassing the previous record closing price of $ 133 set in February 2015.

Inventory surge, push Apple ((((AAPL). With a market capitalization of $ 700 billion, new optimism about the iPhone is growing.

Goldman Sachs will raise its stock price target on Monday, citing the possibility of adding “major new features” such as “3D sensing” to the next iPhone model, according to an investor note provided to CNN Money. rice field.

Apple’s previous highs were set six months after the release of the redesigned iPhone 6 and 6 Plus, kicked off by CEO Tim Cook. Explained As “mother of all upgrades”.

But since then, Apple has gone against the tradition of overhauling the iPhone every other year. The latest models on the market today look much like the iPhones released in late 2014.

Combine long wait times with this year’s iPhone mark 10 year anniversaryHas only raised expectations that Apple is significantly overhauling smartphones and trying to rekindle demand.

Related: Tim Cook: “Apple wouldn’t exist without immigrants.”

Apple Annual sales Sales of the iPhone, which accounts for the majority of the business, fell for the third consecutive quarter, resulting in the first decline in 2016 since 2001.

Apple too Reduce CEO rewards It increased by 15% as the company failed to meet both sales and profit performance targets.

However, the losing streak has just ended.

Apple amount of sales It started growing again in the December quarter. This is due to the growing demand for the iPhone, especially the larger and more expensive iPhone 7 Plus.

The company set a new record with 78.3 million iPhones sold this quarter.At least part of it from Samsung Smartphone recall issues..

“It’s likely that Samsung’s Note 7 struggle has helped,” William Blair analyst Mark Moskowitz said in a note to investors this month.

The iPhone isn’t the only reason Wall Street is so excited about Apple. There is also President Trump.

Despite playing cards Collision with Apple During the campaign, investors are now optimistic that Apple will benefit from at least one Trump proposal: reduce taxes on cash brought back by US companies from overseas accounts.

Apple currently has $ 230 billion in cash It was held in a foreign account. If Trump and Congress make it cheaper for Apple to get the money back, it could be used for acquisitions and buybacks.

CNNMoney (New York) February 13, 2017 First Edition: 12:24 PM ET

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