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Apple Share Price Made Record Closing High After US Federal Reserve Signals Interest Rate Cuts

Apple Share Price Made Record Closing High After US Federal Reserve Signals Interest Rate Cuts
Written by Manoj Kadam
Apple Share Price Made Record Closing High After US Federal Reserve Signals Interest Rate Cuts

Apple Share Price Made Record Closing High After US Federal Reserve Signals Interest Rate Cuts

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The share price of Apple, which manufactures iPhones in large numbers across the world, has set a record. The company's shares have gained momentum due to the Federal Reserve in America not making any change in the interest rate and indicating that it will be cut next year. Apple's shares closed 1.7 percent higher at $197.96.

The previous record high closing price of the company's shares was $196.45 on July 31. Earlier, the company's shares had touched an intra-day high of $198. However, it remained just short of the intra-day record high of $198.23 set on July 19. The market capitalization of this world's most valued company increased to $3.08 trillion. The Federal Reserve has maintained the benchmark lending rate in the range of 5.25 percent to 5.50 percent. Along with this, it has indicated the end of the cycle of increasing interest rates.

The company's mixed-reality headset Vision Pro may be launched soon. It was introduced at the WWDC held earlier this year. The company is preparing for its retail launch. For this, employees of Apple's retail stores in America will be trained. According to Bloomberg report, Apple is being cautious regarding its launch. This AR/VR headset is a complex device. Its setup may need to be customized for each user. For this reason, training sessions are being prepared for Apple Store employees. In this, employees will be given information about the setup and use of Vision Pro as well as how to sell it to potential customers. It has been told in this report that the company's stores in America will soon be given the necessary equipment to assemble this headset.

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Vision Pro is based on an aluminum frame. It has curved glass in the front. There is a physical button to capture images. It has a digital crown for adjustment. Its strap has been made flexible, so that users can wear it easily. Audio pods have been installed on the sides. Apple's M2 chip has been installed in this headset and along with it there is also a new R1 chip. Its display is micro-OLED.

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Manoj Kadam

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