Apple becomes the first company with a market valuation of $3 trillion

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According to the most recent stock count provided by CNBC, Apple’s market value topped $3 trillion on Friday as its shares rose about 1% to a new high and passed the $190.73 price needed to hit. the milestone.

In intraday trading in January 2022, Apple became the first company to reach a market capitalization of $3 trillion, but was unable to close at that level. On Friday, he’ll have one more chance to make it.

It shows that investors are still bullish on Apple’s stock and line of products and services, despite the company’s warning in May that its current-quarter revenue was anticipated to decline by about 3%.

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Investors see the company as one of the bright spots in a turbulent year in the IT industry, with big giants pledging to “do more with less” during an “efficiency year” and laying off thousands of employees.

We strongly believe the exact opposite has occurred, with Cupertino heading for a massive growth renaissance over the next 12-18 months, as Wedbush’s Dan Ives wrote in a note on Friday. “Apple bears and skeptics continue to scratch their heads, as many have called for Apple’s ‘broken growth story’ this year against a more difficult backdrop,” he added.

With around 25% of Apple’s “gold customer base” not upgrading their iPhones in over 4 years, he continued: “In our opinion, The Street has seriously underestimated the upgrade opportunity for the massive installed base around the iPhone. 14 and now an iPhone mini supercycle 15 to go.”

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Apple shares have risen nearly 47% so far this year.

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Categories: Technology

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