For the first time since May of last year, Apple Inc. (NASDAQ: AAPL) has returned to the top of the chart as the Dow Jones industrial average’s best-performing stock for the year to date. The stock traded about flat for the first two days of the week and bounced — along with the Dow itself — on Wednesday. Apple stock added 4.84% last week, and for the year to date has added 28.6%.
The second-best performer among the Dow index equities so far this year is Nike Inc. (NYSE: NKE), which is up 27.5%. That is followed by Microsoft Corp. (NASDAQ: MSFT), up 25.8%, Visa Inc. (NYSE: V), up 24%, and Merck & Co. Inc. (NYSE: MRK), up 22.7%. Of the 30 Dow stocks, 17 have managed to post a gain to date in 2018.
The blue-chip index added nearly 356 points last week to close at 25,669.32, up about 1.4% compared to the previous Friday’s close. The Dow closed up less than 1% for the second quarter, and down 1.8% for the first six months of 2018. For the year to date, the index is up 3.4%, trailing both the S&P 500 (up 5.7%) and the Nasdaq Composite (up 11.6%).
Since reaching the $1 trillion market cap target a couple of weeks ago, Apple has added another $51 billion to its valuation. That’s equal to adding a company the size of General Motors, Deere or AIG.
If there was a catalyst for Apple’s share price increase it was most likely the news that both Warren Buffett and George Soros added to their holdings in the company. Nearly a quarter of Berkshire Hathaway’s portfolio is now tied up in Apple stock.
Apple shares closed Friday at $218.58, in a 52-week trading range of  $149.16 to $217.95. The consensus 12-month price target on the stock is $216.42, and the forward price-to-earnings ratio is 16.05.
Take This Retirement Quiz To Get Matched With A Financial Advisor (Sponsored)
Take the quiz below to get matched with a financial advisor today.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Take the retirement quiz right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
