Apple’s market value returns to $3 trillion

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Apple has made history by becoming the first company with a market value of $3 trillion. This milestone is a sign of Apple’s durability even as the company reduces its total share count. Apple’s ascent to the milestone helped the Nasdaq 100 Index to its best-ever first half ever, driving a broader stock rally that underscored the dominance of tech megacaps.Ā This is the third time that Apple’s market value has reached this milestone since the end of 2021 and the end of June 2023.Ā In addition, Apple’s market value has surpassed Microsoft’s and has once again become the world’s most valuable company.

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The Trillion-Dollar Club

Back in 2011, Apple’s market cap was less than $340 billion. However, it was the world’s most valuable company. At the time, itĀ comprised about 3.3% of the S&P 500. Since then, it has rarely forfeited that title. It first reached $1 trillion in value in mid-2018, and chipmaker Nvidia Corp., became the first trillion-dollar chipmaker earlier this year. Microsoft Corp is the only other US stock with a valuation above $2 trillion.

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Apple’s market cap closed at about $3 trillion for the first time since August after its shares climbed 2% to $193.42 per share on Tuesday. Apple is nearly $500 billion more valuable than the next-largest company, Microsoft ($2.5 trillion market cap), while Saudi Aramco ($2.1 trillion), Alphabet ($1.5 trillion), Amazon ($1.3 trillion), and Nvidia ($1 trillion) round out the exclusive trillion-dollar club.

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Apple’s Future

Investors see Apple as a fortress with significant cash flow, globally popular products, and strong shareholder return programs, even as the company struggles with slowing growth and problems in markets such as China. Apple also warned in November that it didn’t expect annual revenue growth in its all-important which is the first full quarter with iPhone 15 sales. Next year, Apple will release its Vision Pro virtual reality headset, its first major computing platform since introducing the Apple Watch in 2014.

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Apple’s market value returns to $3 trillion, making it the first company to achieve this milestone. The company’s durability and dominance in equity markets are evident, and its ascent to the milestone helped the Nasdaq 100 Index to its best-ever first half ever. Apple’s future looks promising with the release of its Vision Pro virtual reality headset next year.

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