Mixed-Reality Headset Launch Propels Apple to Record High

Apple's stock is on track to close at a record high ahead of its upcoming mixed-reality headset launch, benefiting from a broader rotation back into technology stocks. The gain would extend Apple’s year-to-date rally of 39%, putting it even closer to a historic $3 trillion valuation. The stock has risen consistently throughout 2023, with investors viewing it as a safe haven in periods of economic risk or uncertainty given the strength of its balance sheet, capital-return program, and durable revenue streams.