Apple AAPL stock jumped to new all-time highs Tuesday. It happened after Monday’s firm officially revealed it would start shipping Macs with its own custom-designed chips.
The change is part of Apple’s broader drive to step away from third party products which are improved to iOS 14.
On Monday, the first day of its Worldwide Developers Conference (Apple WWDC), Apple and CEO Tim Cook said that it would phase out its 15-year relationship with Intel INTC for its MacBooks and Mac desktops over the next few years.
The new silicon chips from AAPL will help boost battery life and performance. In addition, it is more because of the better hardware and software integration.
The technology company believes its ability to substitute parts from third parties would help it perform well in the long run.
“It’s for one basic and important purpose when we make big changes. It is because we can make even better goods,” Cook said during a video Monday.
On Tuesday, Apple AAPL stock jumped a further 2 percent to fresh all-time highs of $366.53 a share. The climb was part of a larger big-tech drive that included Amazon AMZN, Spotify SPOT, Microsoft MSFT, and others that helped reach new all-time highs in the Nasdaq Composite.
Apple stock may be due for a near-term pullback, which is now up 63 percent since March 23. Yet, long-term buyers may want to think about buying the $1.6 trillion titanium for its in-house silicon growth, service boom, huge cash pile, and much more.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has dramatically shifted consumer behavior. And also, a handful of high-tech firms are stepping up to keep America running.
Investors in those firms have a shot at serious profits right now. For example, in less than 4 months Zoom jumped 108.5 percent when most other stocks sank.
Research shows that 5 state-of-the-art stocks could skyrocket from the exponential growth in demand for “homestay” technology. This could be one of this decade ‘s biggest buying opportunities, particularly for those getting in early.