Apple hits a new all-time high – CNBC

Hitting a market capitalization of around $701 billion on Monday, Apple briefly crested the $700 billion level it last broke in February 2015. Because of share buybacks, Apple would have to touch above $147.41 to set a new market value record.

Wall Street has given positive outlooks for the next iPhone, as Apple returned to revenue growth this year.

Microsoft, Alphabet, Netflix and Facebook have hit all-time intraday highs this year. With Apple, Alphabet, Microsoft, Amazon and Facebook all near records, their total market capitalization of $2.57 trillion accounts for 13 percent of the S&P 500, according to Factset.

The S&P 500, Dow Jones industrial average and Nasdaq all hit record highs on Monday, despite trading in relatively narrow range for most of 2017.

— CNBC’s Ari Levy, Bertha Coombs and Robert Hum contributed to this report.

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