David Shapiro, Alec Hogg on Apple: Stock gains equivalent of half of SA GDP in one day
In China, iPhone sales surged from February as the market started recovering from the supply and demand shocks caused by the onset of Covid-19. Apple sold 3,9 million iPhones in April alone, a 160% increase from March. On Friday 31 July, Apple's share price jumped up by 10% in a single day. BizNews founder Alec Hogg was joined by market commentator David Shapiro during his Rational Radio webinar this week and the two stock market experts discussed Apple's sudden and impressive share price increase and its continued ability to dominate the US market. You can listen to the full interview in the podcast, below. – Claire Badenhorst
A history of Apple
In June 2015, Apple Inc was added to the Biznews portfolio at a share price of just under $125. The price promptly dropped below $100 and stayed there for months. "That nervous start is long forgotten," says Alec Hogg. This is because Apple's share price jumped up by 10% to $425 a share on Friday – an enterprise value surge of a staggering $180bn in a single day.
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