Apple has achieved a significant milestone by becoming the first publicly traded company to close a trading day with a market value of $3 trillion. The tech giant’s shares saw a rise of approximately 2.31% on Friday, reaching a new all-time high. While Apple had previously reached a $3 trillion market cap in January 2022, it had not been able to sustain that level at the close of trading.
This year, Apple’s stock has experienced an impressive surge of nearly 46%. This success stands in stark contrast to 2022 when the company’s market cap fell below $2 trillion for the first time since early 2021.
The attainment of this historic valuation comes shortly after Apple’s recent launch of the highly anticipated Apple Vision Pro, an augmented reality (AR) headset. Priced at $3,499, the headset, which requires users to remain connected to a battery pack of similar size to an iPhone, is scheduled to go on sale next year.
While competitors like Microsoft, Google, Nvidia, and Meta have embraced the artificial intelligence (AI) trend that gained momentum with the introduction of OpenAI’s ChatGPT in late 2022, Apple has taken a different approach by keeping a low profile on AI. Instead, the company has maintained its focus on other areas. It is worth noting that four other U.S. companies—Alphabet, Microsoft, Amazon, and Nvidia—currently boast valuations exceeding $1 trillion.
Apple’s stronger-than-expected quarterly earnings in May have further solidified its reputation among investors, despite a decline in sales and profit. The company’s performance continues to attract attention and support from the investment community, underscoring its position as a leading player in the technology industry.
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