On Friday, Apple achieved a significant milestone as its market capitalization exceeded $3 trillion. The company’s shares rose approximately 1%, reaching a new all-time high and surpassing the necessary price of $190.73 to reach this remarkable valuation, as reported by CNBC’s latest share count.
While Apple had previously become the first company to reach a $3 trillion market cap during intraday trading in January 2022, it had not closed at that level. However, it now has another opportunity to achieve that feat on Friday.
This achievement highlights the continued confidence investors have in Apple and its diverse range of products and services. It is noteworthy considering the company’s warning in May that it anticipated a decline of approximately 3% in its revenue for the current quarter. Despite this cautionary statement, investor optimism remains strong, reaffirming their belief in Apple’s future prospects.