Apple Inc. Sets Record with Longest Monthly Win Streak in Nine Years

Shares of Apple Inc. (AAPL) climbed 0.7% into record territory on Thursday, solidifying their position as the company’s longest monthly win streak in nine years. The current record closing price of $195.10 was achieved on July 19, 2023.

Impressive Performance and Steady Growth

Apple’s stock has gained a remarkable 1.0% so far this month, adding to its already impressive six-month win streak that saw a surge of 49.3% in stock value. This performance marks the best first-half showing for the company since it leapt 66.9% during the first half of 2009.

Reaching New Milestones

If the current trend continues, July will witness Apple’s longest monthly win streak in over six years since the seven-month stretch that concluded in August 2014. Moreover, it will be a historic moment for the company as it would mark the first time since Apple went public in December 1981 that it achieved seven consecutive monthly gains at the start of the year.

Future Outlook and Market Speculation

The recent rally in Apple’s stock can be attributed to reports that the company intends to maintain steady production of its upcoming iPhone 15 line despite prevailing economic uncertainties. Additionally, market analysts have hinted that the company might also introduce its new iPhone later than usual, creating further speculation and interest in Apple’s stock.

Impressive Year-to-Date Performance

Apple shares have experienced an exceptional year so far, with a remarkable increase of 50.7%. In comparison, the technology-heavy Nasdaq 100 has advanced by 19.4%, while the Dow Jones Industrial Average has gained 5.3%.

Apple’s steadfast growth and unwavering performance in the face of challenging economic conditions continue to position the company as a leading force in the technology industry.