Apple Inc. Closes At Highest Level Since Very Early January

Apple Inc. Closes At Highest Level Since Very Early January
ElisaRiva / Pixabay

Apple Inc. (NASDAQ:AAPL) may be in recovery mode. The company’s shares closed at $533.40, which is the highest closing price since the beginning of this year. In premarket trading, shares continued to rise a bit, inching above $536.

Play Quizzes 4

Apple’s share buyback going along nicely

Daniel Eran Dilger of Apple Insider notes that Apple Inc. (NASDAQ:AAPL)’s share buyback over the summer came at a key time. It bought back 36 million shares during the June quarter for an average price of $444 per share. He notes that if the company had waited until now to buy those shares back, Apple would have paid $3.2 billion more to buy them back now.

Connor Leonard Of IMC Explains: Here’s What Value Investors Should Know About Moats

moat 1557171753When it comes to value investing, one strategy that's often used is seeking out companies which have sizeable moats against competition. In a presentation for the Value Investing Club at Google earlier this year, Connor Leonard of the Investors Management Corporation explained two ways of looking at moats and how value investors can benefit from Read More

Carl Icahn wants even more

This pushes the question about Carl Icahn’s push to get Apple to buy back $150 billion worth of its shares as soon as possible. His main argument has been that the company should take advantage of low interest rates to finance a buyback while shares are cheap. But while interest rates remain low, Apple’s shares are on the rise, suggesting that his reason for pushing a share buyback could be waning.

After all, why would Apple buy back shares when they’ve become more expensive? Of course if the company thinks they will rise even further, buying back more shares would make sense. We’re still a far cry from the high of around $705 a share in September 2012. However, if Apple is unsure about whether shares will get that high again, then it might not be interested in Carl Icahn’s suggestion for much longer.

Any near-term catalysts for Apple?

BGC analyst Collin Gillis said this week that he sees few near-term catalysts left for Apple Inc. (NASDAQ:AAPL). However, he believes that a deal with China Mobile, which could be announced on Dec. 18, could boost shares further.

Will Apple head back to $705 a share? If so, it will likely take some time to get there, but the rising price of late is a good sign, and we could see more gains if Apple reveals very positive iPhone sales numbers for the holiday quarter.

Updated on

Michelle Jones is editor-in-chief for and has been with the site since 2012. Previously, she was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Email her at
Previous article Multi-strategy Fund Flows Outpaced All Others
Next article Warren Buffett: Detroit Has ‘huge Potential,’ Might Invest [VIDEO]

No posts to display