Apple Inc. shares closed at a record on Friday as investors looked past a year marked by turmoil from the U.S.-China trade war and uncertain demand for the iPhone, a product that Apple is moving away from, but which remains central to its business.
The stock rose 2.7% to $236.21 in New York, exceeding the prior high set just over a year ago. The move made Apple the most-valuable U.S. company again, topping Microsoft Corp. Both have a market value of more than $1 trillion. Earlier, the U.S. and China agreed on the outlines of a partial trade accord.