Monday, June 17, 2024

Apple’s market cap is about $3 trillion

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Apple’s stock rose to a record high in late trading on Wednesday, pushing the company’s market value closer to $3 trillion, driven by a strong rebound in tech stocks.

The iPhone maker rose 0.6 percentage points to end the session at $189.25 a share, its second consecutive record high, bringing the company’s market value to $2.98 trillion, according to Refinitiv data.

“Apple” shares so far could not end the trading session with a market value of more than three trillion dollars, but it briefly touched this level during the daily trading session on January 3, 2022, before ending the session. Just below this level.

Although the company’s most recent quarterly report in May showed a decline in revenue and profit, it still beat analysts’ expectations, cementing the company’s reputation among investors as a safe investment in times of global economic uncertainty.

According to “Refinitiv” data, recent gains for “Apple” shares exceeded analysts’ estimates for the company’s future profits. .

Recent gains in shares of the world’s most valuable company were supported by expectations that the Federal Reserve will end its campaign to raise interest rates on the back of a strong recovery by many technology companies on Wall Street. The potential of artificial intelligence.

“Apple” shares have risen 46% since the start of 2023 to now, while “Nvidia” shares have risen 185%, becoming the first company to produce chips with a market value exceeding one trillion dollars.

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Nadia Barnett
Nadia Barnett
"Award-winning beer geek. Extreme coffeeaholic. Introvert. Avid travel specialist. Hipster-friendly communicator."

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