Apple shares climbed to an all-time high at the close of Nasdaq trading on Tuesday, rising $10.53, or 3.16 percent, and hitting $343.99 per share. Apple now has a market value of almost $1.491 trillion.
Despite a bumpy start to the year, tech stocks have fared well during the global health crisis. Apple saw its stocks fall in February and March due to supplier constraints, store closures, and ongoing curbs on travel and transport, but demand for new devices was buoyed by increasing numbers of people working from home, and that saw Apple’s share price surge again in April.
Tuesday’s high came on the back of news that Apple plans to announce an upcoming shift to Arm-based Macs at its virtual WWDC event later this month.
Swapping over to its own house-made chips should allow Apple to release updates on its own schedule and with perhaps more frequent technology improvements.
Read more at MacRumors.com