Apple stock breaks record ahead of Apple Vision Pro launch

The price of Apple stocks reached a peak of almost $185 prior to the introduction of a new product.

For a brief period, the company's market capitalization exceeded $3 trillion.

At the conclusion of the session, the paper had dropped nearly 1%, settling below $180.

On Monday, Apple shares opened at a new all-time high of $184.95, surpassing the previous record of $182.94 set on January 4, 2022.

Prior to the Apple Worldwide Developers Conference (WWDC23), the demand for Apple shares increased as the company was about to present its Apple Vision Pro mixed reality headset, which is considered one of the most remarkable inventions of the last decade, according to Forbes.

The Apple Vision Pro utilizes voice, gaze, and hand movements as its controller, allowing users to overlay virtual objects onto real space that is filmed by multiple cameras - no separate controller is needed.

Bloomberg reports that the device has a wheel, similar to the one on the Apple Watch, which can be used to adjust the level of immersion in the virtual space - just like the wheel on the AirPods Max headphones adjusts the volume.

This helmet, which will be available for purchase in the US in early 2024 for $3,499, is equipped with an external battery that is connected to it via a wire.

Since 2014, the Apple Watch has been the first major product launch for the company in a new category.

At the presentation, Apple also unveiled a 15-inch MacBook Air laptop, as well as Mac Studio and Mac Pro computers for professionals.

Since the start of the year, Apple has seen its stock price increase by almost 40%, while the S&P 500 index has only grown by 11.5%. Apple is the largest public company by market value, representing around 7.5% of the S&P 500 index.

Throughout 2023, Apple shares have seen a steady increase, making them a desirable option for investors looking for a secure place to put their money during times of economic instability. This is due to the company's strong financial position, dividend program, and reliable sources of income.

DFD Partners notes that even though capitalization has increased, Apple still appears to be a reliable company that can keep expanding, as it is able to withstand any difficult situation.