Apple passes $3 trillion market cap
It only broke $2.5 trillion earlier this year…
What you need to know
Apple has just passed a $3 trillion market cap valuation.
Shares are trading up at 182.86.
Apple is now the largest S&P 500 stock by some margin.
Apple’s share price has just passed the $182.86 mark, giving the company a valuation of $3 trillion.
The company only broke the $2.5 trillion threshold back in July. Falling in October, Apple’s stock market dominance was briefly eclipsed by Microsoft which passed it to become the world’s most valuable company, with a valuation at the time of $2.44 trillion.
Analysts tipped Apple to pass the $3 trillion mark as early as January of 2021. Analyst Gene Munster stating “I think for 2021, the performance is going to come again from Apple. It may seem tone-deaf for a company to lead FAANG for three straight years, but I think that in fact will happen. I think this has a track to $200 [per share].”
At its most recent earnings call in October Apple posted revenue of $83.4 billion, CEO Tim Cook stating:
“This year we launched our most powerful products ever, from M1-powered Macs to an iPhone 13 lineup that is setting a new standard for performance and empowering our customers to create and connect in new ways. We are infusing our values into everything we make — moving closer to our 2030 goal of being carbon neutral up and down our supply chain and across the lifecycle of our products, and ever-advancing our mission to build a more equitable future.”
Apple has successfully launched the iPhone 13, Apple Watch Series 7, a slew of new iPads and the new MacBook Pro (2021) with its spicy M1 Pro and M1 Max Apple silicon. Looking ahead, the company has another bumper year of releases on the cards in 2022 featuring a new iPhone SE and possibly a new mini-LED MacBook Air.
