Tech giant Apple and the Dow Jones Industrial Average have something in common Wednesday morning, that is bringing a smile to investors, especially those in the U.S. market.
As Apple traded up to new all-time highs – over $159 per share at market opening – the Dow moved over the 22,000 mark for the first time in its 121 year history, rising over 11 per cent this year and 20 per cent since the election last November.
One would think that it has been solely the tech sector that has driven the Dow to these lofty levels, but in fact aerospace giant Boeing has been the largest contributor, responsible for over 400 of the 1,000-point rise since the Dow hit 21,000 in March.
However, it was definitively Apple that drove the market Wednesday morning, with investors anticipating the new iPhone 8 set to hit the market next month.