Shares of Apple Inc. (NASDAQ: AAPL) posted a new 52-week high last Wednesday and the stock gained about 2.3% to close the week at $139.78. Apple stock has gained nearly 21% for the year to date and remains the Dow Jones Industrial Average’s best performing stock this year.
There was more speculation last week about the new features that will be available on the next generation iPhone, dubbed the “iPhone 8.” Two of the new phone’s most talked about features — a curved display and wireless charging “at a distance,” — are not likely to be ready for this generation.
Fingerprint scanning, which eliminates the need for a home button, is still in the plan as is an all-glass display. After a report that Apple would change the Lightning connector port to a USB-C port, a respected analyst said it wouldn’t happen.
Apple is also expected to announce a new, cheaper 9.7-inch iPad later this month, rumored to be priced at $299.
Apple’s market cap is now over $733 billion, a gain of $17 billion in just one week and $22 billion in the past two weeks. Between last May, when the stock dropped to a 52-week low, and last week, the shares have added more than 54%. The DJIA is up about 19% in the same period and the Nasdaq Composite is up about 24%.
Apple shares closed at $139.78 on Friday in a 52-week range of $89.47 to $140.28. The consensus 12-month price target is $143.50 in a price target range of $102 to $185 per share.