Shares of Apple Inc. rose 0.3% in premarket trading, failing to keep their impressive monthly winning streak intact. Despite a recent rally of 6.3% over the past two weeks, Apple's stock had still declined 4.5% in August due to concerns about declining smartphone demand. If this trend continues, it will mark the end of a seven-month winning streak, the longest since August 2014.
Nevertheless, there is still a glimmer of hope for Apple. If the stock manages to close up 4.7% on Thursday, surpassing the July 31 record close of $196.45, it will establish an eight-month winning streak, the longest since December 2009 when there was a ten-month winning streak.
Despite the recent setbacks, Apple's stock is still performing impressively this year, with a 44.4% gain. In comparison, the technology-heavy Nasdaq 100 has risen 41.3% and the Dow Jones Industrial Average has gained 5.3%.
Apple investors are keeping a close eye on the situation, hoping that the recent dip is only a temporary blip in the company's overall success.
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