Apple stock continues to rise as the company reached a significant milestone for the first time since 2010 when it was still riding on the heels of the iPhone’s initial launch success. The company experienced a small increase in share price on Monday which solidified ten consecutive sessions of the stock rising. This milestone signals a significant upturn for the company after a period of recovery.
The stock market as a whole continues to recover from the unstable period it experienced this quarter over rising tension in Eastern Europe. Bans on oil trading with Russia, among other financial sanctions that have caused a ripple effect across global markets, continue to stifle growth in the stock market. Regardless of that, though, AAPL shows steady growth over the last several weeks. Monday’s close at $175.60 represented its tenth consecutive trading day of growth, putting Apple in the black as it heads into quarter 2 of this year.
Analysts showed concern that Apple stock would stifle in the coming months after the company slowed production on its iPhone SE devices. However, this sharp upturn has brought more than $400 trillion of market value into the company, which signals that faith in major technology stocks is strong even in times of war. Currently, the stock is on track to beat its longest winning streak since 2003.
By Mirko Scarcella
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