Apple stock on track for record close as tech rebounds

May 13, 2026 - 21:09

Apple shares surged nearly 2% on Wednesday, trading just under $300 per share and putting the company on track for a record closing price. The rally came as the broader technology sector rebounded sharply from a sell-off the previous day, with investors shaking off earlier concerns about interest rates and valuation.

The stock's upward momentum pushed Apple's market capitalization closer to the $5 trillion mark, a milestone only a handful of companies have ever reached. Analysts pointed to renewed optimism around the company's services revenue and strong iPhone demand as key drivers behind the move. The rebound also lifted other major tech names, signaling a broader recovery in investor sentiment after Tuesday's dip.

Trading volumes were above average as institutional buyers stepped in to scoop up shares at what they viewed as a discount. Apple's recent performance has been bolstered by its expanding ecosystem, including growth in its App Store, Apple Music, and iCloud services. Some market watchers also noted that the company's upcoming product launches could provide additional catalysts in the coming months.

The record close, if achieved, would mark a significant milestone for Apple, which has weathered a volatile year marked by supply chain disruptions and shifting consumer demand. For now, the stock appears to have regained its footing, riding a wave of tech optimism that has lifted the entire sector.