Tech

Apple hits a new all-time high and briefly climbs above a $925 billion market cap

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Sara Salinas@in/saracsalinas@saracsalinas
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Key Points
  • Shares closed less than a percent up but climbed above $182 in midday trading.
  • A market cap above $925 billion puts Apple well ahead of Alphabet and Amazon.
  • Apple earlier Monday announced it was buying magazine subscription service Texture, and company SVP Eddy Cue said at SXSW that a Netflix or Disney tie-up was unlikely.
Apple shares hit all-time high
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Apple shares hit all-time high
Power Lunch

Apple closed at an all-time high Monday, briefly surpassing an intraday market cap of $925 billion for the first time.

Shares closed at $181.40 — less than a percent up — but climbed above $182 in midday trading, briefly pushing the tech giant to a market cap of $925.4 billion, before closing at $922 billion.

That puts Apple more than $100 billion ahead of the second-largest company by market capitalization, Alphabet, and more than $150 billion ahead of Amazon.

Apple earlier Monday announced it was buying magazine subscription service Texture, and company SVP Eddy Cue said at SXSW that a Netflix or Disney tie-up was unlikely.

--CNBC's Steve Kopack contributed to this report.