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Apple’s Market Capitalization is Approaching $3 Trillion

On Monday, Apple Inc’s valuation was just under 3 trillion dollars, after a spectacular surge over the last decade that has transformed it into the globe’s most important business. The stock must hit $182.86 in order to achieve 3 trillion dollars in market price, although it was lower around 1 percent in afternoon trade after reaching a new high earlier in the very day. It gained about 11 percent last week, increasing its year-to-date rise of more than thirty percent, as traders remain convinced that wealthy consumers would continue paying top price for Macbook pros, iPhones, and offerings such as Apple TV and Itunes.

The tech giant led the group of mega cap technology companies, including Google-parent Alphabet &, that benefitted from consumers and businesses depending extensively on technology during the Corona crisis, rising from 2 trillion dollars to nearly 3 trillion dollars in valuation in only sixteen months.

In contrast, Apple’s transition from 1 trillion dollars to 2 trillion dollars took 2 years.

It has become one of the market’s most valuable firms, demonstrating the world’s domination of American technology and investors’ confidence that it will stay in Apple’s control. The stock appears to have priced in every imaginable positive result.

Surpassing the 3 trillion dollar mark would be another pearl in the hat for CEO Tim Cook, who took over when Steve Jobs stepped down in 2011 and oversaw the firm’s growth in new markets.

Tim Cook has done an incredible job over the last decade, increasing Apple’s stock value by almost 1,400percent. Since the nineties, Apple stock has returned 22 percent per year, whereas the S&P 500 has generated less than 9 percent each year.

Microsoft, with a market price of over 2.6 trillion dollars, has been the world’s biggest corporation until late October, when Apple indicated that distribution network limitations could limit the future performance for the rest of the year.

Big tech companies have risen this year because investors capitalized on growing demands for cloud-based solutions as businesses transitioned to a flexible prototype and individuals updated their gadgets. The Nasdaq 100, which itself is dominated by huge corporations such as Apple, is up over 26 percent this year, while the wider S&P 500 index is up nearly 24 percent.

As the world economy recovers from the coronavirus epidemic and distribution network pressures lessen, the development of products such as 5G, AI, and AR/VR may allow Apple as well as other cash-rich major technology companies to remain popular with shareholders.

Fed tapering and subsequent tightening, as well as growth concerns at the end of 2023, helped Apple reclaim its position as a preferred holding for most traders.

Annie Webb

Annie Webb has held various roles with previous companies ranging from production editor, news editor to news writer. Recently, she joined FinancePlush team as a full-time news writer to cover financial news stories from around the world. She is also passionate about forex trading. In her free time, she loves to learn about new aspects of technical analysis.

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