Investing.com – As tech stocks led the broader market higher Thursday, Apple (NASDAQ:) led the charge of the FAANGs as it rode momentum to another all-time high.
The big-name tech and communication stocks known as FAANGs (Facebook (NASDAQ:), Apple (NASDAQ:), Amazon.com (NASDAQ:), Netflix (NASDAQ:), Google parent Alphabet (NASDAQ:)) have been resilient in the face of geopolitical concerns that have roiled the markets in the new year.
Apple (NASDAQ:) rose 2% in morning trading, setting a new peak for shares at $309.46.
Shares were boosted by news of and more-than-18% rise in December iPhone sales in China.
Apple (NASDAQ:) shipped roughly 3.2 million phones in China in December, data from the China Academy of Information and Communications Technology and Reuters calculations showed.
That was up from 2.7 million a year earlier.
After a peak period in 2015, iPhone sales in China stagnated due to factors including longer upgrade cycles and competition from Chinese rivals.
Apple shares (NASDAQ:) are nearly 54% in the last six months.
— Reuters contributed to this report.
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