Apple's Market Valuation Returns to $3 Trillion After Almost 18 Months
Apple's market capitalization has once again hit $3 trillion as the company's shares opened at $191.78 this morning, up just over 1% compared to yesterday's closing price. It has been nearly 18 months since Apple very briefly hit the milestone in January 2022 before declining along with the overall market.
At the beginning of this year, Apple's value dipped below $2 trillion, but the company's shares have risen 53% so far this year, pushing them back to all-time highs in recent days. Reaching the $3 trillion market capitalization milestone again has required a slightly higher share price than it did 18 months ago as Apple has continued to aggressively buy back its stock, reducing the overall share count of the company.
Apple saw very strong revenue growth during the pandemic as its products and services were in particularly high demand as more people worked, learned, and connected with others from home. The company's momentum slowed along with iPhone production issues and general economic concerns in 2022, but optimism around the company has returned in 2023.
Update: Apple shares officially closed trading today at $193.97, giving the company a market cap of $3.05 trillion.
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Top Rated Comments
Congrats again, Apple.
Apple makes some great tech, but Tim is far more interested in profits and stock price than Steve ever was.
Two very capable people running the worlds most important company in two VERY different ways.
That is the definition of exponential growth