Investors are pushing Apple shares up as the holiday season starts and predictions of iPhone sales reach 71.5M.
Apple shares hit another high yesterday, up $118.63 at the close of Nasdaq trading – a 1.85 percent jump from previous close. The tech company’s capitalization figure also reached record heights of $700 billion. iOS device sales are predicted to send Apple market cap over $1 trillion in 2015, making it the first company in history to achieve this.
The spur is mainly due to analyst Ming-Chi Kuo, respected for his predictions on Apple, saying that iPhone sales will rise to 71.5 million units in the fourth quarter of 2014. However, first quarter 2015 shipments have been reduced by 30.9 percent, taking sales inventory down to 50 million units post-seasonal period.
Chart on MT4: Apple shares rise
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