Apple Stocks Reach New High with $1.5 Trillion Market Cap

Apple’s shares have inclined to an all-time high, which the shares at the Nasdaq closed Tuesday. The stocks were going up by $10.53 or 3.16 percent and hitting $343.99 per share. Apple’s market cap is now at $1,518 trillion dollars.

Image Via MacRumors

Although the Cupertino company had a rough start to the year as the coronavirus outbreak affected businesses and companies worldwide, stocks in technology companies went as well during the economical crisis. Apple had a dramatic impact on its stocks on the months of February and March as iPhone production and sales declined due to COVID-19. This has resulted from Apple Store closures in China and worldwide and iPhone factories in China shut down due to COVID-19 lockdown, restrictions on employee travel and iPhone imports and export, and sales. But the stocks gradually raised back up as more coronavirus lockdowns were issued to more countries around the world and the demand for new device purchases and increased use of Apple services as people stayed and worked from home.

The news of the stock market raises came by yesterday when Apple plans to change to ARM-based Macs on the virtual WWDC event later this month. This includes the swap from Intel to Apple-made chips in the next Macs, MacBooks, and iMacs and the ability to Apple to release updates at the company’s own schedule year-round. These Macs with custom processors will be released this fall in an October or September event this year in the last quarter or in the first quarter of 2021 in the winter or early spring.