Apple Share Price Hits Record High After Fed Signals Rate Cuts

Apple Hits Record High As Fed Signals Rate Cut

[{"selector":"#anim-ea12ef08-f687-4822-91b4-3228138a0fbe","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-12f25887-6ee9-47ba-a9d9-544254669622","keyframes":{"transform":["translate3d(0px, -186.93222%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Apple's stock achieved a new record closing high on Wednesday, driven by a broader US stock market rally following the Federal Reserve's decision to maintain unchanged interest rates and signal potential future reductions.

[{"selector":"#anim-174121ad-cd26-4f34-b37e-32ffd84b1e5e","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] [{"selector":"#anim-744db53f-65d8-45ef-8f77-619e75fe18f7","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-afd037a9-30dd-417e-bc66-e06325990998","keyframes":{"transform":["translate3d(0px, 122.04791%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-edab1e5f-11ff-49ae-b14f-31c26582079d","keyframes":{"opacity":[0,1]},"delay":300,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] Closing at $197.96 each, Apple shares surged by 1.7%, surpassing the tech giant's previous record of $196.45 on July 31. The increase reflects a robust performance in the stock market.

Apple stock price hit an intraday high of $198.00, shy of its record high of $198.23 hit on July 19.

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Apple’s market capitalization soared to $3.08 trillion, keeping its tag as the world’s most valuable company.

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[{"selector":"#anim-524764d2-e15e-4dd8-b120-0e76fd6531d7","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d634d702-22b7-4a2e-a4b2-af66532f5835","keyframes":{"transform":["translate3d(0px, 100.07192%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3309ce91-3ec4-48e9-8ad7-88cd2f3ef2d1","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a8e5c7b3-54d6-4849-81f9-060789a4f0c1","keyframes":{"transform":["translate3d(0px, -229.52601%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Fueled by Apple's share surge, the Dow Jones Industrial Average soared 1.4%, reaching its highest closing level since January 2022. The rally indicates market strength.

[{"selector":"#anim-324ebd77-1a12-4852-a2f5-05b6e26eb909","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7889caea-99d6-45f9-833e-6dcf6c6c6e78","keyframes":{"transform":["translate3d(-100.48662%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dc5b39e0-2441-48df-a0ca-77a05c1b70ee","keyframes":{"opacity":[0,1]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ad764f7c-bc22-4105-9fe1-1b31fe916680","keyframes":{"transform":["translate3d(115.80645%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":1500,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] In 2023, Apple's shares rose by 52%, significantly contributing to the Dow's 12% rebound and the S&P 500's 23% rally during the same period.

[{"selector":"#anim-bc2087ad-141a-4c4c-8500-469387ea5bc7","keyframes":{"opacity":[1,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] [{"selector":"#anim-8562046c-64be-4f62-9a30-f451d4adf8d1","keyframes":{"transform":["scale(3)","scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-15369351-e8d7-447f-9e21-8d297d4d8588","keyframes":{"opacity":[0,1]},"delay":400,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] The US Fed maintained the benchmark lending rate between 5.25% and 5.50%, signaling the end of the interest rate hike cycle. No changes occurred on Wednesday, with three anticipated rate cuts next year.