Dow Jones Reaches Another Milestone

Strong U.S. corporate earnings push index to record high
August 2, 2017 Updated: August 4, 2017

The Dow Jones Industrial Average hit 22,000 on Aug. 2 for the first time, receiving a boost from strong earnings posted by Apple Inc.

Apple shares surged nearly 6 percent in the premarket on Aug. 2 after the company’s quarterly results beat expectations.

“We continue to believe Apple remains among the most underappreciated stocks in the world,” Brian White, an analyst at Drexel Hamilton, wrote in a research report.

He raised his estimates and revised his price target from $202 to $208 per share.

Should shares of Apple climb to White’s price target, the company will be worth over $1 trillion.

Should shares of Apple climb to White’s price target, the company will be worth over $1 trillion. Apple’s current market capitalization is around $819 billion.

Shares of Boeing Co. and McDonald’s Corp. are the other top gainers that have driven up the Dow in recent days.

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