Why Did AAPL, FBRX, RTX Stocks Surge To 52-Week Highs Today?

Investor optimism was driven by AI optimism, a multibillion-dollar acquisition, and strong earnings execution.

• Apple overtook Nvidia to become the world's most valuable company with a $4.95 trillion market capitalization.  
• Forte Biosciences shares hit a four-year high of $76.60 after agreeing to a $2.2 billion all-cash acquisition by Argenx. 
• TD Cowen raised RTX’s price target to $240, citing strong Raytheon demand. 

Apple Inc. (AAPL), Forte Biosciences Inc. (FBRX) and RTX Corp. (RTX) stocks climbed to fresh 52-week highs on Monday as a mix of market leadership, acquisition news and upbeat earnings continued to fuel buying interest in the three stocks.

Apple and RTX stocks ended the session 1% and 2% higher, respectively, while Forte Biosciences stock jumped over 39%. 

Apple Dethrones Nvidia As World's Most Valuable Company 

Apple stock touched a record high of $339.57 and regained its position as the world's most valuable publicly traded company after surpassing Nvidia (NVDA) to hit a market capitalization of $4.95 trillion. The move reflected growing investor preference for companies capable of expanding artificial intelligence offerings without committing to the massive infrastructure spending.

Investors are watching how Apple adds AI features to its devices and services while protecting its high profit margins. Optimism around new iPhone models, upcoming Mac chips and earnings has also boosted confidence in the stock.

Apple will report its fiscal third-quarter (Q3) earnings on Thursday, with analysts expecting $108.96 billion in revenue and earnings of $1.89 per share, according to Fiscal AI data. On Stocktwits, retail sentiment around the stock turned to ‘neutral’ from ‘bullish’ territory the previous day. 

Forte Receives Acquisition Boost

Forte Biosciences stock hit a four-year high of $76.60 after agreeing to be acquired by immunology-focused biotechnology company argenx SE (ARGX). The all-cash transaction values Forte at approximately $2.2 billion, with shareholders set to receive $77 per share. The acquisition follows encouraging early-stage clinical data for FB102, an experimental antibody being developed for autoimmune diseases including vitiligo, celiac disease and alopecia areata.

Evercore ISI downgraded Forte Biosciences to ‘In Line’ from ‘Outperform’ and raised its price target to $77 from $69 after the acquisition update. The firm's analyst said the acquisition is a good fit for both companies and called it a "clear win-win" for Argenx and Forte.

Retail sentiment around the stock jumped to ‘bullish’ from ‘bearish’ territory the previous day. 

RTX Extends Post-Earnings Rally

RTX stock reached an all-time high of $220.39, extending its three consecutive days of gains after reporting stronger-than-expected second-quarter results and raising its outlook for the full year. Continued demand across its defense businesses and commercial aviation maintenance operations supported a guidance raise.

TD Cowen analyst Gautam Khanna increased his price target for RTX to $240 from $225 while maintaining a ‘Buy’ rating. He said the company's strong Q2 performance was driven mainly by Raytheon, which secured strong order bookings even before expected missile contracts were included. 

Khanna also noted that fewer Pratt & Whitney GTF engines remain grounded, easing concerns about potential additional costs related to powdered metal issues. Retail sentiment around the stock remained in ‘extremely bullish’ territory. 

So far this year, AAPL and RTX stocks have gained 23% and 19% respectively, while FBRX stock has surged 180%.

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