Apple shares closed at a record high on Wednesday, 11 November, as a broker upgrade and a broad rally on Wall Street lifted the iPhone maker to a market value above $5 trillion.

Apple rose $7.12, or 2.04%, to close at $355.63 on the Nasdaq, a new all-time closing high. The shares traded as high as $355.90 during the session, also a record intraday level, after closing the previous session at $348.51.

Upgrade lifts Apple to record

The move followed an upgrade from China Renaissance, which raised Apple from hold to buy and set a $425 price target on the stock. MarketBeat reported the new target, which sits well above Apple’s closing price and implies further gains of about a fifth if it is reached.

Apple’s market value stood at about $5.096 trillion at the close, according to MacDailyNews, keeping it the world’s most valuable listed company. The shares have risen about 29% so far in 2026, making Apple the best-performing of the so-called Magnificent Seven stocks this year, according to analysis published by the Motley Fool.

Wall Street rallies

The wider market also rose on Wednesday. The S&P 500 gained 1.3% to end at 7,619.38, the Nasdaq Composite advanced 1.6% to 25,466.19, and the Dow Jones Industrial Average rose 0.5%, or 254.60 points, to 52,486.49, Zacks reported.

Apple reported record September-quarter revenue of $114.5 billion on 2 November, with earnings of $2.10 per share, beating Wall Street forecasts. Shareholders of record on Thursday, 12 November, will receive a quarterly dividend of $0.27 per share, payable on 16 November.

Investors will now watch whether Apple can hold above the $355 level when US trading resumes, with the shares little changed in pre-market trading on Thursday morning.