Media reports say Apple has once again topped $3 trillion in market value, becoming the only company to hit the milestone
Post Date – Friday 23rd – 11:45pm – June 30th
New Delhi: According to media reports, Apple’s market value once again reached $ 3 trillion, becoming the only company to reach this milestone.
Its shares rose 1% to a record $191.34 on Friday. According to CNN, Apple has issued 15.7 billion shares and its share price hit a record high.
This has happened to Apple before: on January 3, 2022, it once touched the $3 trillion mark in the intraday session, but failed to close. According to CNN, if Apple closes above the $3 trillion mark, it will be the only company to achieve the feat.
Shares of the company closed at a record high for the third day in a row on Thursday, but rose just 0.2%. On Friday, Apple easily broke through the $190.73 level needed to break through $3 trillion.
The tech giant’s valuation has since taken a risk with the launch of the Apple Vision Pro earlier this month and after it reported a stronger-than-expected quarterly earnings report in May, despite a drop in both sales and profit. sky-high price.
The Vision Pro will go on sale next year, impressing tech journalists who got an early preview of the augmented reality device. But it’s entering a nascent market with little adoption by mainstream consumers.
Apple plans to charge as much as $3,499 for its headphones, which currently have limited apps and experiences and require users to use an iPhone-sized battery pack.
A general rally in big tech stocks has helped propel Apple’s shares soaring nearly 46 percent this year as investors piled on to the artificial intelligence wave.
According to CNN, Nvidia leads the S&P 500 this year with a 181% gain, followed by Meta with a 137% gain.
Apple’s stock market success this year stands in stark contrast to 2022.
In early 2023, Apple’s trading market value fell below $2 trillion for the first time since early 2021.
