Shares of Apple Inc. (NASDAQ: AAPL) posted a new 52-week high last Wednesday and the stock gained about 2.7% to close the week at $135.72. Apple stock has gained about 17.2% for the year to date and remains the Dow Jones Industrial Average’s best performing stock this year.
Much of the past week’s gain came as the result of speculation about what the company will be including in the iPhone 8. The most talked about new features are a glass sandwich design, borderless OLED screen, wireless charging and augmented-reality technology.
Among other stories related to the company last week, Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK-A) reported that it now owns about 57.4 million shares of Apple stock, up from 15.23 million at the end of the third quarter of 2016.
The company’s market cap is now just over $712 billion and the distance to becoming the world’s first $1 trillion company is within reach. Between last May, when the stock dropped to a 52-week low, and last week, the shares have added 52%. Another charge like that and a $1 trillion market cap is a cinch.
Finally, The Boston Consulting Group named Apple the world’s most innovative company for the 11th consecutive year. Apple has nabbed the award every year since BCG began awarding it. Google/Alphabet Inc. (NASDAQ: GOOGL) has been named the second-most innovative company in nine of those 11 years.
Apple shares closed at $135.72 on Friday, in a 52-week range of $89.47 to $136.27. The consensus 12-month price target is $139.82 in a price target range of $102 to $185 per share.