Apple stock hits record joins big tech party

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Wheelhouse CIO Ann Berry, Ladenburg Thalmann Asset Management CEO Phil Blancato and Kaltbaum Capital Management President Gary Kaltbaum on today’s markets.

Apple is joining the big tech investor party that's been underway already this year. 

Shares of the world's most valuable company hit a new record Wednesday, the first since January 26 of 2021, as tracked by Dow Jones Market Data Group, with no major public news headlines. 

TickerSecurityLastChangeChange %
AAPLAPPLE, INC.144.57+2.55+1.80%

It was also the best performer in the Dow Jones Industrial Average and the S&P 500's most active name. 

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This as the S&P 500 and the Nasdaq Composite also nabbed fresh all-time highs with annual gains of 13.8% and 16% respectively, still ahead of Apple. 

TickerSecurityLastChangeChange %
SP500S&P 5004358.13+14.59+0.34%

"The big money flows are heading right now into Amazon, Apple, Google, Facebook, Microsoft with a smattering of others and I think it continues at least into earnings which is about three weeks away," said Gary Kaltbaum, Capital Management President.  Apple is set to report earnings after the close of trading on July 27. 

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Despite its gains, Apple is still lagging its big-tech peers including Google with a 44% rise. Microsoft and Facebook are up over 25%+ apiece and Amazon has gained 13.5% recently hitting a fresh all-time high as CEO Andy Jassy took over from founder Jeff Bezos this week. 

AMAZON STOCK NABS RECORD AFTER BEZOS-JASSY HANDOFF

Big Tech Stock Gains YTD 

Apple: 8.9%

Google: 44.3%

Microsoft: 25.9%

Facebook: 28% 

Amazon: 13.5%

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Amazon closed at its second fresh record high of the week on Wednesday.

MEET AMAZON'S NEW CEO ANDY JASSY

TickerSecurityLastChangeChange %
AMZNAMAZON.COM, INC.3,696.58+20.84+0.57%

Apple CEO Tim Cook, Bezos and Jassy are all expected to attend the Allen & Co. media and tech conference in Sun Valley Idaho this week also dubbed the summer camp for billionaires. 

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