It’s clear that even when it seems Apple is down, it won’t stay that way for long. Apple stock hit its highest level since late July on Wednesday. Shares are now up 12% this year which has investors smiling.
That’s honestly a huge turnaround in a short period of time.
But currently, Apple is now only 8% below its all-time high from April. In other words, Apple is no longer in a correction which is a more than 10% pullback from a recent peak. That’s good news.
If you were lucky/brave enough to buy Apple at the height of the market panic back on August 24 when the Dow was in the midst of a 1,000 point sell-off then you’re sitting on a nearly 35% gain.
The company reported a 36% jump in iPhone sales and did particularly well in China which is contributing to the numbers now.