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June 5, 2020, 1:55 p.m. EDT

Apple stock heads for new record close

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By Emily Bary

Apple Inc. shares /zigman2/quotes/202934861/composite AAPL +1.65% are up 2.6% in Friday afternoon trading and on track to record a new all-time closing high if the gains hold through the end of the session. The stock needs to close above $327.20 to reach that milestone. The stock is on pace for its first record close since Feb. 12. "With roughly 350 million of...iPhones in the pent up 'window of an upgrade opportunity' we believe [Apple] has a unique opportunity to capture this delayed super cycle opportunity with a major 5G cycle on the horizon which will include a host of new smartphone versions/models for iPhone 12," Wedbush analyst Daniel Ives wrote in a note to clients late Thursday. He said Apple's stock represents his "best 5G play into the next year." Apple shares have added 11% over the past month as the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +2.13% has gained 14%.

/zigman2/quotes/202934861/composite
US : U.S.: Nasdaq
$ 388.23
+6.32 +1.65%
Volume: 41.71M
July 14, 2020 4:00p
P/E Ratio
30.44
Dividend Yield
0.84%
Market Cap
$1655.33 billion
Rev. per Employee
$1.98M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
26,642.59
+556.79 +2.13%
Volume: 401.64M
July 14, 2020 4:20p
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