Apple shares rise for ninth straight session; tech firm unveils new smelting process

Apple shares closed in the green for a ninth straight session Thursday. Meanwhile, the tech innovator has helped develop a new environmentally friendly aluminium smelting process.

Apple shares rise for ninth straight session; tech firm unveils new smelting process

Apple shares ended higher in the US Thursday, the ninth straight positive close for the tech giant. And, that was also the first time since the summer of 2017 the stock has achieved an almost two-week long winning streak.

Separately, Apple has announced it has played a big part in the discovery of a new, environmentally friendly aluminium smelting process.

Apples shares ended the US Thursday trading session, 1.43% higher at $190.04. Not only is it a fresh high for the stock, its also the first time in over nine months it has achieved nine consecutive positive performances on the US stock market.

And, according to the FT.com, if Apple ends the Friday US trading session in the green, it will mark the stock’s longest period of consecutive gains since October 2010.

Apple’s aluminium breakthrough

Apple announced Thursday that it has played a major part in an aluminium smelting breakthrough. Working with Alcoa and Rio Tinto, Apple has helped develop a new process that means no greenhouse gases are created during smelting.

Aluminium is a significant material used to make iPhones and this new development is a “revolutionary advancement in the manufacturing of one of the worlds most widely used metals,” Apple said.

Apple is set to work with Alcoa, Rio Tinto and the Canadian and Quebec governments to further develop this research and will invest £144 million into the project.

Environmental credentials

Apple’s commitment to reducing the environmental impact of its products is something the tech innovator feels strongly about. Indeed, it publishes an annual report detailing the environmental impact of its business.

“Apple is committed to advancing technologies that are good for the planet and help protect it for generations to come,” Apple CEO Tom cook said.

“We are proud to be part of this ambitious new project and look forward to one day being able to use aluminium produced without direct greenhouse gas emissions in the manufacturing of our products,” Cook added.

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