Apple's Stock Closed at All-Time High Today Ahead of Earnings Results Next Week
Apple's stock price closed at an all-time high of $139.07 today after reaching a new intraday record of $139.85 moments earlier.
The gains come just five days before Apple is set to report its earnings results for the first quarter of the 2021 fiscal year. Many analysts forecast that Apple's quarterly revenue will exceed the $100 billion mark for the first time thanks to strong iPhone 12 sales and the launch of several other products in the quarter, including the first three Macs with Apple silicon, HomePod mini, AirPods Max, and a redesigned iPad Air. Apple Fitness+ also launched last month and can be bundled with other services with Apple One.
Apple has thrived financially during the ongoing pandemic as many customers work, learn, and connect with others from home, leading to strong iPad and Mac sales in particular. Apple products are also popular gifts during the holidays.
Apple's earnings report will be released on Wednesday at 1:30 p.m. Pacific Time and will be followed by a conference call with Apple's CEO Tim Cook and CFO Luca Maestri at 2:00 p.m. Pacific Time. Apple's current quarterly revenue record is $91.8 billion, set in the first quarter of the 2020 fiscal year.