Apple shares hit first all-time high in over a year as big tech reclaims leadership

Apple Inc. shares hit an all-time high on Monday, the first since January 2022, indicating a resurgence of big tech’s leadership role.

1. The shares rose 1.6% to close at $183.79, while their 2023 advance now stands above 41%.
2. The stock has been viewed as a safe haven amid market turmoil and has eased concerns about the company’s growth prospects following positive results.
3. Apple’s plans to expand and revitalise its retail chain have helped to boost investor optimism.
4. The company’s market capitalisation of $2.89 trillion puts it back within striking distance of achieving a historic $3 trillion valuation.