Apple becomes the first company to close the week with a value of $3 trillion
Apple has become the first publicly traded company to close a trading day with a $3 trillion market value. The company's shares climbed about 2.31% on Friday to a new high of $193.97. This milestone comes after Apple's stock price has skyrocketed nearly 46% this year.
Apple's market cap first reached $3 trillion in January 2022, but it failed to close at that level. The company's stock price has been on a tear this year, despite a broader market sell-off. This is likely due to a number of factors, including strong demand for Apple's products, its growing services business, and its plans to enter new markets, such as augmented reality.
A company that knows how to stay ahead in a constantly evolving world
The launch of Apple's Vision Pro headset earlier this month may have also contributed to the company's market cap surge. The headset is expected to go on sale next year and could be a major new source of revenue for Apple.
Apple's market cap is now more than three times the size of its nearest competitor, Microsoft. The company's valuation is also more than twice the size of the entire Chinese stock market.
Apple's success is a testament to the company's ability to innovate and stay ahead of the curve. The company has been able to consistently release new products and services that are popular with consumers. Apple's strong brand and loyal customer base are also major factors in its success.
It remains to be seen whether Apple can maintain its current growth rate. However, the company's track record suggests that it is well-positioned to continue to grow in the years to come.
Apple is not the only US company that broke the $1 trillion+ market cap
In addition to Apple, four other U.S. companies have a valuation of more than $1 trillion:
- Alphabet (Google)
These companies are all leaders in their respective industries and have been able to achieve massive valuations thanks to their strong growth and profitability.
It is likely that we will see more companies join this elite club in the years to come.Advertisement