Home Artificial Intelligence Apple faces $3 trillion market cap… Over 4 trillion dollars inside 2 years

Apple faces $3 trillion market cap… Over 4 trillion dollars inside 2 years

Apple faces $3 trillion market cap…  Over 4 trillion dollars inside 2 years

(Photo = shutterstock)

As Apple’s stock price reached an all-time high, the world’s first market capitalization of three trillion dollars (roughly 3940 trillion won) was reached in front of our eyes.

On the twenty eighth (local time), Apple’s stock price soared to $ 189.90 on the Recent York Stock Exchange, surpassing $ 3 trillion in market capitalization. It’s the primary time in a 12 months and a half since January 3, 2018, that Apple’s market capitalization exceeded $3 trillion. Until at the present time, there have been only two times that the market capitalization exceeded $3 trillion even in the course of the intraday, and each are records left by Apple.

Reuters didn’t maintain a market cap of three trillion based on the closing price, but Apple’s stock price closed at a record high of $ 189.25, up 0.6% from the day past, and reported that the market cap reached $ 2.98 trillion.

Apple stock has risen 46% this 12 months alone. For the reason that end of last 12 months, Apple’s growth appeared to be slowing down attributable to the smartphone and PC market stagnation and provide chain issues.

As well as, technology stocks are rising due to the expectation that the Fed will stop raising rates of interest and the substitute intelligence (AI) craze, and Apple can also be benefiting from it. Microsoft (MS), the second largest company by market cap, also rose 40% this 12 months, and semiconductor company Nvidia surged 185%.

If this continues, Apple’s market cap is anticipated to exceed $3 trillion eventually. If realized, it is going to be a world first.

Meanwhile, on Wall Street, there was an evaluation that Apple’s market capitalization would exceed $4 trillion inside the following two years.

Daniel Ives, an analyst at Wedbush Securities, said, “Wall Street underestimated Apple’s growth. Apple has overcome many challenges over the past 18 months, including China’s supply chain problems, and is facing all odds on the brink of $3 trillion in market cap.” It signifies that Apple’s internal stability has been proven to be stronger than expected.

At the identical time, he predicted that by fiscal 12 months 2025, Apple’s market cap would reach from $ 3.5 trillion to $ 4 trillion.

AI Times Reporter Chan Park cpark@aitimes.com


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