Apple's stock price got a bit of a boost after the company announced the launch event of its newest phone.
Apple's stock price hit a record high after the company announced the launch event date for its newest smartphone.
On Thursday, Apple sent out invitations to its September 12 launch event, which will be held in the brand new Steve Jobs Theater at Apple's new headquarters.
Shares climbed as high as $164.52 minutes after the announcement was made. They have slipped off that level and are now trading back below $164.
The iPhone 8 has been extensively leaked in the months before its launch. It's expected to have an OLED screen that makes use of most of the front of the device and eliminates the home button.
The new phone might also have wireless charging, a higher price tag, and a dual-lens 3D camera system to take advantage of its ARKit technology. Some analysts are expecting the next phone to start a supercycle of upgrades from consumers.
Apple shares are up 41.15% this year.