There might be a worldwide pandemic going on and the threat of global recession looming, but Apple’s share price is hitting new highs - edging ever closer to $400 a share.

On 20 July 2020 Apple's shares closed at $393.48, while on 13 July AAPL briefly nibbled at the $400 mark ($399.82) during the day before closing at $397.97, its highest price to date.

The lowest price in the past 12 months was on 5 August 2019 when it closed at $192.58. Since that date Apple’s stock has climbed 104.32 percent.

Apple has a current market capitalization of $1.705 trillion, only the Saudi oil conglomerate Aramco is more valuable on the stock exchange.

Microsoft follows behind Apple with a market capitalization of $1.605 trillion and Amazon with $1.595 trillion.

Apple will be revealing its earnings for the third fiscal quarter on 30 July.

If you are wondering whether to buy Apple stock read this: How to buy Apple shares.

This article originally appeared on Macwelt. Translation by Karen Haslam.