Apple shares hit a record high of $300 at Thursday’s close.

At Thursday’s close, Apple closed up 2.28 percent at $300.35, a record high for the first time in the company’s share price. Apple’s share price jumped nearly 90 percent throughout 2019, leading FAANG. Gene Munster, a technology analyst, had previously thought Apple’s stock would soar further in 2020. Apple shares are expected to rise to $350 or even $400 in the new year, it said.

Apple shares hit a record high of $300 at Thursday's close.

Citigroup analysts recently said Apple’s first-quarter results for fiscal 2020 will have a brighter track record, driven largely by wearables such as AirPods and Apple Watch.

Despite the stunning gains in the share price, Apple could also come under pressure in 2020. Technology investor Paul Meeks has previously warned that Apple’s record performance in 2019 could put investors at risk.

“My valuation for Apple is about $170 a share, ” says Meeks. According to my model, Apple is overvalued by about $100 per share. “He expects Apple to report some disappointing results over the next year or so, which will lead to a sharp correction in share prices.”

In addition, Apple’s price-to-earnings ratio is now at an all-time high, or a warning sign of overvaluation.

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