Apple shares rally, erasing the losses from the company's revenue warning earlier this month

  • Shares topped $157.92 in midday trading, surpassing the stock's closing price on Jan. 2.
  • Apple's stock lost 10 percent the day after the company issued disappointing guidance.
  • It's been a particularly rough few months for Apple investors.
Apple CEO Tim Cook gestures on stage during an Apple special event in San Francisco, California
Getty Images
Apple CEO Tim Cook gestures on stage during an Apple special event in San Francisco, California

Apple shares rose more than 3 percent on Friday, gaining enough ground to practically erase the losses that followed the company's lowered revenue guidance three weeks ago.

The stock traded as high as $158.13, briefly topping the $157.92 closing price on Jan. 2. After the market's close that day, Apple said sales for its fiscal first quarter would likely fall short of expectations due to weaker-than-expected iPhone sales and headwinds in China.

Apple lost 10 percent of its market value the day after the announcement, marking the stock's steepest one-day drop since 2013. Shares closed at $157.76 Friday.

Even with the recent bounce, it's been a particularly rough few months for Apple investors. The company, which became the first in the U.S. to reach a $1 trillion stock market value, has seen its shares drop 32 percent from its record high in October.

Apple reports first-quarter results next week.

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