Apple stock price is up 2% on Monday, rising to a new record high. Each share is going for about $184.60, sailing past the previous high of around $182 set back in early 2022.
Experts credit a recent rise in AAPL on anticipation for the VR/AR headset that Apple will almost certainly unveil on Monday.
So much Apple headset hype
The Verge reported that people in the nascent AR/VR industry can barely contain their excitement at Apple entering the arena.
“This is the single greatest thing that could happen to this industry,” said Campfire 3D CEO Jay Wright. “Whether you make hardware or software. We’re excited about it.”
Apple’s DNA — which marries high-end hardware with cutting-edge software to produce undeniably desirable products — makes it uniquely positioned to produce the world’s first hit AR/VR headset.
“If we were facing rumors of a similar headset made by someone not Apple, I don’t think it would be all that successful,” IDC research manager Jitesh Ubrani told The Verge. “Apple has huge scale, huge developer support, huge consumer support — and no one else comes even close to that.”
Apple CEO Tim Cook and other executives are expected to unveil the VR/AR headset at the keynote for WWDC23, set for Monday at 1 PM EDT.
Apple share price record doesn’t set new high market cap
The rise in AAPL price isn’t a recent trend, so it’s not all about the headset. The company has had a very good year, with shares shooting up 47% in 2023.
The last time Apple’s share price was over $180, the company’s market capitalization passed $3 trillion. That isn’t the case on Monday. Apple’s stock buyback program has the company purchasing then retiring its own shares, so there are fewer shares to add to the capitalization. As it stand now, Apple’s total value is “only” $2.9 trillion.
Lewis Wallace contributed to this article.
