As the major indexes continue to flirt with all-time highs nearly every day, it should come as no surprise that many individual stocks are touching new heights on a regular basis—and targeting stocks that are breaking into new highs will always be a popular technique for momentum-focused investors.
Despite some recent volatility caused by anxiety-inducing geopolitical drama related to North Korea, the bull market is raging on, and according to Barcharts.com, at least 68 stocks touched a new all-time high on Wednesday alone.
And of course, we all know that the technology sector has been one of Wall Street’s driving forces this year. In fact, as the Zacks Sector Rank data shows, our “Computer and Technology” group has gained nearly 19% year-to-date, significantly outpacing the 11.3% growth of the S&P 500.
Indeed, the list of today’s new all-time highs includes some of the tech world’s biggest names. For example, even though it has moved into the red during late afternoon trading hours, consumer electronics behemoth Apple (AAPL - Free Report) hit a new peak today.
Apple shares briefly trudged about 0.6% higher to hit a new high of $162.51. As customers eagerly await more details on the company’s upcoming 10th anniversary edition iPhone, investors are continuing to fuel the stock’s post-earnings surge. Currently, AAPL is a Zacks Rank #3 (Hold), but the stock does have an “A” grade for Momentum in our Style Scores system.
Another familiar tech stock hitting new highs today is Salesforce (CRM - Free Report) . This cloud computing giant looks poised to end the day more than 1.5% higher, and earlier this afternoon, the stock touched a new all-time high of $92.40 per share. Salesforce is also a Zacks Rank #3 (Hold), but it has been able to earn an “A” grade for Growth.
And Salesforce isn’t the only player in the cloud computing space that is moving to new heights today. Adobe Systems (ADBE - Free Report) , a maker of cloud-based graphic design and imaging software, moved more than 1% higher to touch a new all-time high of $151.99 per share.
ADBE has slumped back down a bit, but the stock will close in the green, and with its Zacks Rank #2 (Buy), it could be poised to break even higher soon (also read: 3 Cloud Stocks to Buy Right Now).
Investors interested in the cloud space might also notice that AppFolio (APPF - Free Report) is also on the new highs list. AppFolio, which offers cloud-based software solutions for property management and legal industries, debuted about two years ago and has been steadily climbing since then.
Today, AppFolio climbed nearly 2.5% to touch a new high of $39.32 per share. As of right now, the stock is sporting a Zacks Rank #1 (Strong Buy), as well as “A” grades in our Growth and Momentum categories.
Finally, to give the video game space some love, investors should note that game developer Take-Two Interactive (TTWO - Free Report) hit a new high today. In early afternoon trading, Take-Two surged more than 1.9% and touched a high of $92.46 per share. TTWO is currently a Zacks Rank #3 (Hold).
These five stocks are just a few of the many companies reaching new all-time highs today. For the complete list, make sure to check out Barcharts, and for analysis on whether these stocks will move higher, stay right here at Zacks!
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