Apple shares hit an all-time high on Friday and the company regained the crown as the most valuable company in the world from Microsoft this week.
Stock in Apple closed Friday at $160.55, up $2.68 for the day. The company has a stock market capitalization of $2.63 trillion, just ahead of Microsoft at $2.58 trillion. Apple stock was up 6.6% for the week.
Reports of Apple working on its own electric vehicle helped send shares to a record high. Bloomberg says Apple is planning to launch its own fully-autonomous electric vehicle by 2025.
Apple is also primed for a big holiday season with almost its entire lineup of products refreshed this year. New versions of the Apple iPhone, Apple Watch, iPad mini, iPad, iMac, HomePod Mini and Macbook Pro have all been introduced this year and ready for purchase by holiday shoppers.