Investing.com – Shares of Apple (NASDAQ:AAPL) hit a new 52-week high on Monday after a report from the Nikkei Asian Review that said the iPhone maker wants its suppliers to ramp up production of its new lower-end iPhone 11 mobile device. The production boost suggests strong demand for the new model.
The shares peaked at $229.48 around 1 PM ET (17:00 GMT) and were up 0.8% at $228.82 at 1:17 PM ET.
Apple (NASDAQ:AAPL) is still slightly below its all-time high of $233.47 set on Oct. 3, 2018, just before the stock began a fourth-quarter 2018 swoon that saw the shares fall 30%. The shares are up 45% year to date.
Apple (NASDAQ:AAPL) was the top performer among the 30 stocks in the Dow Jones Industrial Average, but the index was down 0.16%.