Shares in the tech giant outperformed again on Friday, pushing the name to a fresh all-time high. The gain added to Apple's historic move above a $2 trillion valuation and put the stock up more than 67 per cent for 2020, reports CNBC.
The company also outperformed other major tech-related names this week, rallying more than 6%. Apple has been on fire this year and was key in the S&P 500 busting through its previous record high earlier this week.
However, some worry these lopsided tech gains could be a problem for the market, especially if the group struggles going forward.
Peter Berezin, chief global strategist at BCA Research, highlighted in a note five risks to Big Tech moving forward, including "the dismantling of pandemic lockdown measures" as it could "shift some spending from the online realm back to brick-and-mortar stores."
Apple rally seemingly unstoppable
FE Team | Published: August 22, 2020 20:42:36
Apple rally seemingly unstoppable
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