Apple’s market cap closes above $3 trillion

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’s
value
officially
crossed
the
$3
trillion
mark
for
the

first
time
in
June,
and
briefly
touched
$3
trillion
in
December
2022
during
intraday
trading.
Apple
stock
hit
its
all-time
high
July
31
and
it
remains
the
most
valuable
publicly
traded
U.S.
company.

The
milestone
is
a
sign
of
Apple’s
durability
—
the
iPhone
maker’s
stock
price
has
risen
over
48%
so
far
this
year
—
even
as
the
company
reduces
its
total
share
count
through
buybacks.

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.

In
Apple’s
fiscal
2023,
which
started
in
October,
Apple
reported
$383.29
billion

in
total
revenue,
down
about
3%
from
the
prior
year.

Apple
also
warned
in
November
that
it
didn’t
expect
annual
revenue
growth
in
its
all-important
December
quarter,
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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