Apple again hits $3 trillion market cap

Apple again hits $3 trillion market cap

New York, 6/30/2023

Apple hit a market valuation of $3 trillion on Friday, making it that

first public company to achieve this milestone twice.

To solidify a $3 trillion market cap, the company’s shares would need to close at or above $190.74 on Friday. At the close of the market, the price was USD 193.70.

Apple, the most valuable publicly traded company in the world, recorded a market value of over $3 trillion for a few minutes in intraday trading on January 3, 2022. Its market value is up 45% this year and has gained nearly $1 trillion in value, outpacing the broader S&P 500’s 14.5% gain.

Wedbush Securities analyst Dan Ives predicts that Apple could hit a $4 trillion market cap by 2025, pointing to a possible “mini-super cycle” with this year’s release of the iPhone 15 and its augmented virtual reality plans app store and a headset.

Four other US companies — Alphabet, Microsoft, Amazon, and Nvidia — are currently valued at over $1 trillion.

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