Apple stock hit an all-time new high on Thursday, in the first trading day of the new year. Apple closed at just over $300, continuing the significant gains it made all last year. That is more than 100% growth from the January 2019 low of $142.
Apple (AAPL) shares were at $142 in January 2019, in the wake of investor unease of Apple’s lowering its Q1 2019 guidance by up to $9 billion.
However, the current share price gives Apple a market capitalization of $1.33 trillion. AAPL’s performance in 2019 (the company’s best since 2009) accounted for an impressive 8.2% of the entire U.S. stock market’s gains.
Late 2018 and early 2019 saw a huge drop in sales in China, due to rising iPhone prices, as well as trade tensions between the United States and China. Apple lowered prices (it offered the iPhone 11 at a new $699 price point), and offered numerous promotions in China, spurring a sales boost for the iPhone lineup in the country.
Apple stock continued to rise over the last few months, in the wake of stronger than ever AirPods sales, as well as better than expected sales of the iPhone 11 and iPhone 11 handsets.