Apple stock gains 84% in 2019, Back into the Trillions club
December 31, 2019 | Investopaper
2019 was a great year for Apple shareholders as the stock price surged by 84% in a single year. With the stock price skyrocketing, the market capitalization has once again crossed one trillion dollars mark. At current, the total market cap of Apple is 1.30 trillion dollars.
Apple stock opened 2019 with $157.74 and closed the year around the price of $291.50. This shows the price gained more than 84 percent in a single year.
The rise in the stock price of Apple is mainly due to the moderate success in its iPhone business which surpassed the Wall Street expectations. Also, the tech giant saw an encouraging result in its airpods sales which amounted to almost 6 billion dollars.
The 5G phones of apple which are likely to hit the market in 2020 are expected to boost the revenue and earnings of apple.
The apple stock fell to the lowest of $142 in 2019 and peaked at as high as $293.27.
