Apple: Nice close

Friday’s $40 pop was Apple biggest one-day dollar gain and $425.04 it’s eighth all-time high for July.

The chart below ranks the top thirty all-time high AAPL closing prices. Dates in green indicate closing price was an all-time high at that time.

Thanks to AAPLInvestors‘ Terry Gregory, keeper of the stats.

Apple all-time high 425

My take: Results have consequences.

See also: Apple is green, headed for record high

21 Comments

  1. David Emery said:
    Is this also the largest -percentage gain-?

    0
    July 31, 2020
    • Bart Yee said:
      No, it actually isn’t by %. The largest per TipRanks was Mar 13, 2020 close $277.97, up $29.74 with an 11.98% gain (only counted since 7:1 split June 9, 2014). I’m sure we’ll see the % charts tomorrow or update today.

      I did find an article from some obscure analyst saying this:

      Apple soars $38.05, its second highest one-day dollar gain
      BY PHILIP ELMER-DEWITT
      November 19, 2012 6:31 PM PST

      FORTUNE — After one of the longest bear markets in its roller-coaster history, Apple (AAPL) rebounded Monday, closing at $565.73, up $38.05 (7.21%) for the day, while pulling the NASDAQ (+2.21%) and S&P 500 (+1.99%) up along with it.

      It was Apple’s second best day since 1984 in terms of dollar gains, second only to April 25, 2012, when the stock rose nearly $50 on higher-than expected second quarter earnings. (See the spreadsheet below from AAPLInvestors.net.)

      2
      July 31, 2020
  2. Manfred Schwencke said:
    Great Q3 earnings, great trading day!

    Cheers to all longs here and many thanks to PED for his highly valued Apple 3.0 Site!

    Any news from „tradervic“?

    5
    July 31, 2020
  3. Bart Yee said:
    Now at a market cap of 1.842T. Needs only to close at $459.27 with current 4.355B shares outstanding to cross $2T market cap. That’s only 34.23 points (8%) from today’s close.

    Shall we place bets on what trading day that close will be? Hurry because it might come before you could place that bet!

    1
    July 31, 2020
  4. David Emery said:
    Since AAPL is part of several stock indexes, what impact will the 4-1 split have on things like DJIA?

    0
    July 31, 2020
    • Bart Yee said:
      Good article from 9to5Mac which quoted Business Insider article about the effect of the split, will post links separately but here’s part of the text:

      “The AAPL stock split of course has no impact on the value of the company, it just means that you’ll have four times as many shares that will be worth a quarter of their previous value. But it will have one concrete impact…

      Business Insider reports that it will mean AAPL will have less influence on the Dow Jones index.

      One sizable impact the Apple stock split will have on the market is related to the Dow Jones industrial average, of which Apple is a member. The 30-company index is a price-weighted index, meaning that moves in the index are based on the dollar move in the stock price, not the percentage move as in other stock market indexes.

      Because Apple’s stock price will decline from around $400 to around $100 once the split is enacted, moves in Apple shares will have less of an impact on moves in the Dow. Apple is currently the highest priced stock in the Dow, meaning that a move in Apple has the biggest impact on the move in the Dow.

      Once Apple enacts its stock split, UnitedHealth will replace it as having the largest impact on the Dow Jones index.

      0
      August 1, 2020
      • Bart Yee said:
        “The piece also notes that this will be the fifth AAPL stock split.

        Apple previously enacted 2-for-1 stock splits in 1987, 2000, and 2005, as well as a 7-for-1 stock split in 2014.

        This means that if you owned one share prior to the first split in 1987, you’d now own 224 shares after this latest one.

        Apple’s stated rationale for the split was to make investing in the company more accessible to small investors, but Business Insider’s Matthew Fox takes issue with that.

        Some investors think that a higher stock price attracts longer-term investors and discourages shorter-term traders, effectively reducing volatility.

        But with fractional share investing capabilities now available at nearly every brokerage firm, that thinking is likely obsolete. As is the thinking that a stock split would broaden the appeal of the stock to investors. Now anyone can invest as little as $5 into Apple or Amazon instead of having to commit to buying a full share.

        I’m not sure I totally agree: While fractional investing does indeed remove barriers for small investors, potential new investors may be completely unaware that such a thing exists. A more affordable price may have them look into it for the first time — even if buying a handful of shares in one company is not normally advisable.”

        0
        August 1, 2020
  5. Fred Stein said:
    Understated boast: The 4 to 1 split says, “We’re a $400 plus stock today.” The results back it up.

    They bought back 1.1% from the end april to then end june when the stock went up 50%.

    0
    July 31, 2020
  6. Wyatt Counts said:
    Anyone remember “Tommo UK, Snipus, and Sleepy Geek from the old TMO AAPL message board? I think kindly of them and others on days like today.

    0
    July 31, 2020
      • Bill Haymaker said:
        Tommo UK and Dawn Treader (also known as Robert Leitao) are the two individuals that made me feel pretty comfortable being all in with AAPL as my only investment/retirement policy. I still have Tommo’s post from January of 2007 where he laid out his prediction of what Apples financials would look like for the following four years if you’d like to have it. An interesting persona to be sure.

        0
        August 1, 2020
  7. David Drinkwater said:
    Wow. Just … wow.

    I went to work yesterday, had a rough day. Negotiated for a half day off today.

    Completely missed the stock split announcement yesterday, too busy working, couldn’t break to watch the financial results report live, just saw “good” on finance yahoo com.

    Started digging into all of it today.

    Absolutely phenomenal.

    The technical stuff that I saw at WWDC (onlooking) was amazing.
    The financial stuff that I see in latest earnings are incredible (encroyablé!)!

    I’m not a finance guy, so all I can say is … this is incredible. Amazing.

    1
    July 31, 2020
  8. Bart Yee said:
    Total volume at closing and including after hours was 93.5M shares, another 20M (27
    %) shares in the last half-hour and after hours. 2.7X normal volume. This bump will surely push Avg. volume beyond 40M again.

    I suspect a lot of newer millenial investors / traders, perhaps on Robinhood or other platforms, are working overtime, hopefully not day trading. I’d hate to see young “investors” get screwed over playing shorts and options if they don’t know what they are doing or risking. By the number of “investors” on Yahoo! Finance conversations asking about what does a stock split mean, I suspect there’s lots of them out there.

    I also wonder how many may have been shorts covering their positions quickly so as not to incur further losses as the stock rises.

    0
    July 31, 2020
    • David Emery said:
      “I also wonder how many may have been shorts covering their positions quickly so as not to incur further losses as the stock rises.”

      I always like it when shorts lose money 🙂

      1
      August 1, 2020
      • David Drinkwater said:
        “I always like it when shorts lose money “

        I second that, even with a tinge of sadistic glee, but when I think about the world today, I do also feel bad for people losing money.

        Tim warned them: don’t bet against us.

        1
        August 2, 2020
  9. Kirk DeBernardi said:
    Does anyone here share a concern of mine?

    With this split, should there be a concern that — in Apple’s reasoning — quote: “Make the stock available to a broader range of investors” could easily be construed as an open invite to an excitable group entering into owning your stock who may NOT have a more calm outlook on their investments as the seasoned players do and option/short/or outright bail should the first sign of trouble or a black swan event come along?

    If I have any skill at all regarding my Apple stock over these many years it is the one of patience that has paid off for me the most.

    Jus’ sayin’.

    1
    August 1, 2020
    • David Drinkwater said:
      I personally believe, though I may be completely wrong, that a lower share price for AAPL encourages investors to own the real asset, rather than derivatives. I think of options a bit more as a “play” than an investment.

      That’s just my two cents, but for me, personally, the asset is worth way, way more than that.

      0
      August 2, 2020
  10. Jerry Doyle said:
    The world-of-work as we know it has changed more to a work-from-home environment for many workers going forward. More workers and more CEOs see the benefits to be derived from a “work-from-home” arrangement for workers who desire and who need such an accommodative work arrangement. This will keep benefiting Apple stock price, as it has been doing.

    The other all important finding that continues to be confirmed is polls showing that 20% of the public (⅕) has “no intention” of taking a COVID-19 vaccine when one comes forth. My own findings show a much higher percentage: around 40%! This is an astounding figure and it has significant ramification over how soon the nation gets through to a post COVID-19 environment. I say somewhere in 2022.

    So, COVID-19 is going to be with us at least another 1 to 1 ½ years. Apple will benefit throughout this period along with entering the 5G generation and from introducing a plethora of new and innovative products and services.

    In summary, Apple will hit all times new highs quickly over-and-over going forward.

    It is going to be exciting to finally come up with a 12-18 month target price. I believe we all are thinking too conservatively of a target price. We need to think higher.

    1
    August 1, 2020
    • David Emery said:
      Well, Darwin might well have something to say to the 20%-40% who won’t get vaccinated. That’s very unfortunate, but frankly I won’t lose any sleep over that once I get my vaccination.

      1
      August 1, 2020

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