Apple shares hit record on first day of developer conference

Key Points
  • Apple shares hit an all-time high on Monday, as tens of thousands of developers flocked to San Jose, California, for WWDC.
  • The stock rose as high as $193.42 per share and is up about 24 percent in the past year.
Developers are the linchpin for Apple, says expert

Apple shares hit a new all-time high on Monday, as tens of thousands of developers flooded into San Jose, California, for WWDC, the company's annual developer conference.

The stock rose as much as 1.7 percent to $193.42, pushing Apple's market capitalization past $940 billion. The shares have gained 24 percent over the past year.

All three of the world's most valuable publicly traded companies climbed to records on Monday, with Amazon and Microsoft also claiming new highs. The three tech companies are now worth a combined $2.5 trillion.

Apple's developer conference draws third-party programmers from across the world to hear the company discuss new tools and features, as well as introduce its new operating system. WWDC has become increasingly important, as the company works to assert itself as a software and services provider, rather than just a maker of iPhones and Macs.

Microsoft on Monday announced its acquisition of GitHub, which represents a big investment in courting developers.

Apple announced several features and upgrades, including a new operating system iOS 12, a new augmented reality toolkit in partnership with Adobe, and new features for combating tech addiction.

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