Apple Breaks Records: First Company to Reach $3 Trillion Market Cap
For the first time, Apple has ended a trading session with a market capitalization exceeding $3 trillion. This event has been eagerly anticipated by market participants and analysts, and yesterday’s stock market dynamics met their expectations. For the first time in the history of the American stock market, a trading session ended with a mark corresponding to a capitalization level of over $3 trillion. Apple’s stock rose 2.3% yesterday, and the company’s capitalization has increased by more than $983 billion since the beginning of the year.
Formally, the trading session closed at $193.97 per Apple share, after which the price rose by an additional 0.17%. This is the first time an American company has managed to exceed a capitalization of $3 trillion. Apple had already approached this milestone in January of this year but was unable to secure it at the end of the trading session. The current achievement is expected to last longer.
Apple first claimed the title of the world’s most valuable company in 2011 when it reached $340 billion. By mid-2018, it had reached the $1 trillion mark, and by August 2020, Apple’s capitalization was estimated at $2 trillion. Although at that time, the Cupertino company was not the first to cross this threshold, as the oil giant Saudi Aramco had done it earlier. At present, among American companies, only Microsoft can boast a capitalization of more than $2 trillion, and at the $3 trillion mark, Apple remains proudly alone.
This year, Apple shares have increased in price by 55%, they are not the leaders in terms of dynamics, but they make up 7.7% of the S&P 500 index, therefore they are capable of influencing the dynamics of the entire American stock market to some extent. Not all analysts share the optimism of Citi representatives, who claim that Apple’s shares are capable of increasing in price by another 30% and crossing the $4 trillion capitalization threshold.
According to Bloomberg representatives, the current Apple stock rally in the stock market has nothing to do with the recently introduced augmented reality headset Vision Pro or artificial intelligence technologies. In the first case, sales have not yet begun, and they will remain almost unitary for a long time, and in the second case, investors have nothing to cling to due to Apple’s lack of intentions to rely on generative artificial intelligence technologies until at least the second half of next year. Investor confidence in Apple shares is formed by a stable and steadily developing ecosystem and the scale of the business itself, which adds resilience to the company.
- I'm Vasyl Kolomiiets, a seasoned tech journalist regularly contributing to global publications. Having a profound background in information technologies, I seamlessly blended my technical expertise with my passion for writing, venturing into technology journalism. I've covered a wide range of topics including cutting-edge developments and their impacts on society, contributing to leading tech platforms.
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