After trading at $193.42 per share yesterday, the company’s market value reached $3 trillion for the first time since August.
Apple’s total market capitalization officially crossed the $3 trillion mark for the first time in June, and briefly hit that record in daily trading in December 2022. The iPhone maker’s stock hit an all-time high on July 31 and remains the most valuable publicly traded company in the United States.
Apple’s market value reaching 3 trillion dollars indicates the high stability of this company. Despite the Cupertino-based tech giant reducing its total number of shares through buybacks, its share price has risen more than 48% this year.
Investors describe Apple as a fortress with significant cash flow and globally popular products that have very strong plans to return shareholders, while the company is struggling with slow growth and problems in the all-important Chinese market.
According to CNBCApple’s revenue in the 2023 fiscal year has reached 383.29 billion, which has decreased by 3% compared to last year.
The first generation of Apple’s virtual reality headset, the Vision Pro, will be released early next year, which is the company’s first major computing platform since the introduction of the Apple Watch in 2014.