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Apple Rips To A New All-Time High

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Yahoo Finance

Apple shares are hitting new all-time highs on Wednesday.

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As of this writing it's at $103.95, leaping past the previous high of $103.74, according to Bloomberg.

There's no specific reason for the shares to be soaring. If anything, it's a continued reaction to strong earnings on Monday and a solid overall market for the day. 

Investors' favor toward Apple comes down to one thing: the iPhone 6

Apple says it is selling all the iPhones it can make. It says supply and demand aren't even on the same planet. Apple is the iPhone company, and iPhones are selling well.

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Apple still isn't near its record market cap value, though. The company has bought back shares, so its market cap still lags its all-time high.


NOW WATCH: Here's The Ultimate iPhone 6 Camera Review — Shot Entirely With An iPhone 6

 

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