With this Apple is on track to become the world’s first company with a market capitalization of $3 trillion. Currently, Apple’s market cap stands at $2.89 trillion and with the growth in the share price in the recent week, the day is not far when it breaches the historic $3 trillion mark.
$3 trillion market cap in sight?
This is the first time since 2022 that Apple has hit a record high, indicating that Apple is set to regain its leadership spot amongst the big tech companies. As reported by Bloomberg, Apple stock has seen a generous upward rise of around 41% in 2023 alone. This is quite impressive in comparison to the Nasdaq 100 index which has seen gains of 35% in the same time period. Despite receiving mixed reactions on Vision Pro due to its hefty price of $3,500, Apple has seen steady growth in its share price. It briefly touched an intraday record high after unveiling Vision Pro. Apple stock has remained a favorite amongst investors regardless of shoddy market conditions. Investors have considered it a safe haven owing to its balance-sheet strength, capital-return program, and durable revenue streams. Moreover, Apple’s efforts towards decentralizing its supply chain and impressive growth in emerging markets like India are also some factors that have attracted investors. Wayne Kaufman, chief market analyst at Phoenix Financial Services says, “Apple has a roadmap people are comfortable with, it has unbelievable cash flow, and you can’t do better than this incredible business model. We’re seeing people come back following the bear market, and Apple is just one of the stocks where investors are comfortable owning it whether it goes up or down, because they’re confident they’ll make money over the long run.” In the second half of 2023, Apple shares are expected to soar further heights as it will unveil iPhone 15 series, a new Apple Watch, an iPad with a larger screen, and other hardware. The company is expected to introduce Dynamic Island across the lineup. The feature was introduced in iPhone 14 series and is restricted to Pro iPhone models. As far as Vision Pro goes, the device is expected to go on sale in early 2024 in the U.S. As per a recent report, Apple is also working on an affordable version of Vision Pro which could be announced by the end of 2025.
title: “Apple Shares Hit Record High As Company Inches To Reach 3 Trillion Market Cap” ShowToc: true date: “2023-05-14” author: “Ingeborg Ruiz”
With this Apple is on track to become the world’s first company with a market capitalization of $3 trillion. Currently, Apple’s market cap stands at $2.89 trillion and with the growth in the share price in the recent week, the day is not far when it breaches the historic $3 trillion mark.
$3 trillion market cap in sight?
This is the first time since 2022 that Apple has hit a record high, indicating that Apple is set to regain its leadership spot amongst the big tech companies. As reported by Bloomberg, Apple stock has seen a generous upward rise of around 41% in 2023 alone. This is quite impressive in comparison to the Nasdaq 100 index which has seen gains of 35% in the same time period. Despite receiving mixed reactions on Vision Pro due to its hefty price of $3,500, Apple has seen steady growth in its share price. It briefly touched an intraday record high after unveiling Vision Pro. Apple stock has remained a favorite amongst investors regardless of shoddy market conditions. Investors have considered it a safe haven owing to its balance-sheet strength, capital-return program, and durable revenue streams. Moreover, Apple’s efforts towards decentralizing its supply chain and impressive growth in emerging markets like India are also some factors that have attracted investors. Wayne Kaufman, chief market analyst at Phoenix Financial Services says, “Apple has a roadmap people are comfortable with, it has unbelievable cash flow, and you can’t do better than this incredible business model. We’re seeing people come back following the bear market, and Apple is just one of the stocks where investors are comfortable owning it whether it goes up or down, because they’re confident they’ll make money over the long run.” In the second half of 2023, Apple shares are expected to soar further heights as it will unveil iPhone 15 series, a new Apple Watch, an iPad with a larger screen, and other hardware. The company is expected to introduce Dynamic Island across the lineup. The feature was introduced in iPhone 14 series and is restricted to Pro iPhone models. As far as Vision Pro goes, the device is expected to go on sale in early 2024 in the U.S. As per a recent report, Apple is also working on an affordable version of Vision Pro which could be announced by the end of 2025.
