NEW YORK ( TheStreet) -- Apple (Nasdaq: AAPL) hit a new 52-week high Wednesday as it is currently trading at $616.74, above its previous 52-week high of $616.28 with 19.3 million shares traded as of 2:50 p.m. ET. Average volume has been 12.3 million shares over the past 30 days. Apple has a market cap of $391.88 billion and is part of the technology sector and computer hardware industry. Shares are up 51.7% year to date as of the close of trading on Tuesday. Apple Inc., together with subsidiaries, designs, manufactures, and markets personal computers, mobile communication devices, and portable digital music and video players, as well as sells various related software, services, peripherals, and networking solutions. The company has a P/E ratio of 17.3, above the average computer hardware industry P/E ratio of 15.2 and below the S&P 500 P/E ratio of 17.7.
TheStreet Ratings rates Apple as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Apple Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.