Apple on Monday became the first company to hit a $3 trillion stock market value before it ends a hair below that milestone, as investors bet the iPhone maker will continue to launch best-selling products as it automates. Explores new markets like cars and virtual. reality. On the first day of trading in 2022, shares of the Silicon Valley company hit an intraday record high of $182.88. Apple Market value just above $3 trillion. The stock ended the session up 2.5% at $182.01, with Apple’s market capitalization at $2.99 trillion.
The world’s most valuable company reached a milestone as investors bet consumers will continue to pay top dollar for iPhones, MacBooks and services like Apple TV and Apple Music. Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma, said, “It’s a spectacular achievement and certainly deserves to be celebrated. It shows you just how far Apple has come, and it as a majority.” It is seen in the eyes of investors.”
Apple Shares the $2 Trillion Market Value Club Microsoft Corp., which is now worth about $2.5 trillion. Alphabet Inc (Google, heroine And Tesla Whose market value is more than $1 trillion. According to Refinitiv, the Saudi Arabian Oil Company (2222.SE) is valued at approximately $1.9 trillion. Scott Wren, senior global market strategist at Wells Fargo Investment Institute, said, “The market is rewarding companies that have strong fundamentals and balance sheets, and companies that are hitting such huge market caps have proven That they are strong business and not speculation.” ,
Apple’s shares have risen nearly 5,800% since co-founder and former CEO Steve Jobs unveiled the first iPhone in January 2007, compared to nearly 230% of the S&P 500 (.SPX) during the same period. The benefit is more than that.
under Tim CookApple, who became chief executive after Jobs’ death in 2011, has rapidly increased its revenue from services such as video streaming and music. This helped Apple reduce its reliance on iPhone Nearly 52 percent of total revenue in fiscal 2021, up from 60 percent in 2018, has led investors to worry that the company is relying too heavily on its best-selling product.
Still, some investors worry that given how much Apple can expand its user base and how much cash it can squeeze out of each user, there’s no guarantee that future product categories will prove to be as attractive as the iPhone. The rapid adoption of technologies such as 5G, virtual reality and artificial intelligence has also added to the appeal of Apple and other big tech companies.
Recent data from Counterpoint Research shows that in China, the world’s largest smartphone market, Apple maintained its lead for the second month in a row, beating rivals such as Vivo and Xiaomi. As Wall Street’s Tesla is now the world’s most valuable automaker betting heavily on electric cars, many investors expect Apple to launch its own vehicle within the next few years.
“The icing on the cake, what could become the cake, is the potential of the EV car,” said Rhys Williams, chief strategist at Spouting Rock Asset Management.
As Apple’s market capitalization hits the $3 trillion milestone, its share price as a percentage of the value of the Nasdaq 100 Index is rising against a key technical level. In recent times, the share price has risen above such levels and subsequently declined.
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