Apple shares climb 0.7%, registering an intra-day record high of $199.62
Apple, the world’s most valuable publicly traded company, stock climbed to a record high on Thursday, after the Federal Reserve Wednesday signalled an end to its aggressive rate hike policy and indicated possible rate cuts next year.
The Tech giant’s stock climbed 0.7%, rising to an intra-day record high of $199.62, beating the iPhone maker’s previous intraday record of $198.23 on July 19.
The rally in Apple’s stock is showing no signs of easing. After closing at a record high on Wednesday, the iPhone maker’s market value is approaching that of Europe’s largest stock market: France. The world’s most valuable company now has a market capitalization of $3.08 trillion.
At 9:42 a.m. ET, the Dow Jones Industrial Average was up 35.43 points, or 0.10%, at 37,125.67, the S&P 500 was up 21.56 points, or 0.46%, at 4,728.65, and the Nasdaq Composite was up 92.21 points, or 0.63%, at 14,826.17.
US stocks surged after the Fed held interest rates steady, with a near-unanimous 17 of 19 Fed officials projecting the policy rate will be lower by the end of 2024.
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Published: 14 Dec 2023, 11:10 PM IST
