Apple stocks have hit a new ceiling today and closed at $300 per share. This marks a significant jump from when the company started out in January 2019.
In Q1 of 2019, the company’s shares stood at $144 and revenue guidance was lowered. Moreover, sales for Apple iPhones were down late 2018 until 2019 in China, mostly due to trade tensions and rising prices. The Cupertino-based company compensated by dropping the prices and coming up with attractive promotions.
Then, when the iPhone 11 was released Apple set a price point of $699. Demand for the iPhone 11 lineup grew and sales were better than expected. In a fortunate turn of event, the same happened with the release of the new AirPods model.
Over the last 2 months, Apple’s stocks have surged and rose to $300. In comparison, its shares were valued at $700 but then the company split it to 7-for-1 in 2014.