AP Photo/Richard Drew
- Apple gained as much as 1.7% during the day Thursday, the third straight day of gains for the company this week.
- The increase has solidified that Apple is on track for its best year since 2009.
- Apple has gained roughly 80% this year and added about $530 billion of market value.
- Watch Apple trade live on Markets Insider.
Shares of Apple rose as much as 1.7% during intraday trading Thursday to yet another fresh high this year for the largest publicly traded company in the US.
If the share price increase holds, it will be the third day of gains this week for the technology company. So far this year, Apple has gained more than 80% through Tuesday’s close. It’s the best annual performance since the company’s roughly 150% rise in 2009.
Apple’s annual performance in 2019 has handily beat performance in the S&P 500 index, which is up about 30% year-to-date.
The rally this year also brought the company’s market value above $1 trillion again. Apple in August 2018 became the first company to ever hit the milestone, but fell below the record valuation in a year-end market rout in 2018. In October, the company reached a $1 trillion valuation again after rallying on positive US-China trade war news.
So far this year, the company has added roughly $530 billion in market value and is currently worth roughly $1.28 trillion.
Apple has a consensus price target of $267.64, about 7% below where the stock is currently trading at roughly $288 per share. Still, the company has 28 “buy” ratings, 14 “hold” ratings, and 7 “sell” ratings from Wall Street analysts that cover the company, according to Bloomberg data.