Apple’s Market Value Surges above $3 Trillion

Apple Inc’s stock market value ended Friday’s trading session above $3 trillion for the first time ever, as improving inflation led to strong sales.

Apple is the world’s most valuable company. At the end of last week’s trading, shares leapt 2.3% to $193.97, giving it a market capitalisation of $3.05 trillion. 

The latest gains in Apple shares are part of a large tech stock rebound that comes from bets that the United States Federal Reserve may be slowing its pace of interest-rate hikes. The excitement around artificial intelligence is another driving factor.

Apple’s $3 trillion milestone follows the June 5 launch of an expensive augmented-reality headset, as the firm made a pre-emptive move in an area previously dominated by Meta.

Apple’s most recent quarterly report in May showed revenue and profits fell but still beat analysts’ expectations. Along with a steady track record of stock buybacks, the financial results reinforced its reputation as a bankable investment in a time of global economic uncertainty. 

Apple has solidified its reputation as one of the safest public companies around. It continues to grow and diversify its revenue streams, has shareholder-friendly management, pays dividends, and has a powerful balance sheet with steady and defendable cash flows.

At the time of writing, four other US companies have a valuation of more than $1 trillion: Alphabet Inc, Microsoft, Amazon.com Inc and Nvidia Corp.