The US stock market continues to bound from strength to strength.
There are plenty of individual stocks touching new highs as well.
On Feb. 12, Apple (AAPL) shares hit an all-time, closing high of $133.29 .
The company, celebrating the 10th anniversary of its iPhone franchise, boasts a market value of nearly $700 billion as of Feb. 13.
That’s more than $120 billion ahead of Google parent Alphabet (GOOGL).
Since the launch of its first iPhone in 2007, Apple’s shares have soared more than 600%, according to the Wall Street Journal.
The sharp-eyed analysts at Bespoke Investment Group recently screened for stocks hitting all-time highs as of February 13.
If found 36 of them, which works out to 7.2% of the S&P 500 index.
And here’s a breakdown by sector:
The breadth of the stock market’s explosive rally is impressive.
Yet stock valuations are anything but cheap.
According to FactSet, the S&P 500 trades at roughly 21 times the past 12 months of earnings.
The 10-year average is about 16 times earnings.
- Xavier Brenner has covered global market, business and economic trends for Interactive Brokers Asset Management since 2013. An experienced financial journalist, Brenner offers analysis and insights on the stories that matter to the discerning investor.