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Apple Shares Hit Record Close on Optimism for Next iPhone

  • Apple extends lead over Alphabet as most valuable company
  • IPhone 7 attracted new smartphone buyers during holiday season
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Apple Closes at Record High on Optimism for Next iPhone

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Apple Inc. shares hit a record on optimism the next iPhone will drive a resurgence in sales and help the company’s services businesses grow.

The stock climbed less than 1 percent to $133.29 at the close Monday in New York, the highest on record. The increase valued Apple at about $699 billion, making it the world’s most highly capitalized company. Google parent Alphabet Inc. is next at $573 billion, according to data compiled by Bloomberg.