Here's Why Apple Stock Jumped to a New All-Time High Today

Shares of Apple (NASDAQ: AAPL) climbed to a record high on Wednesday, following bullish analyst commentary and reports of substantially higher iPhone production rates. As of 2 p.m. EDT, the stock's price was up more than 2%, which placed Apple's market capitalization at a staggering $2.5 trillion.

The tech titan is striving to manufacture as many as 90 million of its newest iPhones this year, according to Bloomberg. Apple is reportedly preparing to boost shipments by 20% compared to 2020's levels.

Apple is expected to debut its latest-generation iPhones in September. Upgraded processors, displays, and cameras should all help to add to the device's allure among consumers.

Source Fool.com