Apple shares close to all-time record on iPhone X rumors

- Adrian Ungureanu

Shares of Apple’s stock closed at an all-time high Monday, riding a post-earnings rally and a more favorable outlook on Wall Street. This happened after Goldman Sachs said that Apple was slightly undervalued based on hearing speculation about the device possibly having AR features, signaling it may be a significant update to the iPhone.

Apple closed at $133.29 a share, surpassing its record closing high price of $133, set in February 2015. It has yet to break its all-time high of $134.54 a share, set in April 2015.

Apple now has a market capitalization (share price multiplied by number of shares outstanding) of $698.89 billion. That makes it the highest valued company in the world.

The rumors about Apple launching an anniversary iPhone, dubbed iPhone X or iPhone 8, increased the trust among Apple investors, that hope that this model will be a big hit in stores.