Apple breaks another record by closing a trading day at US$3 trillion
Last Friday, the trading day opened for Apple with a price of US$191.63 per share, reaching an intraday high of US$194.48 and also dropping to a low point of US$191.26. However, the closing price of US$193.97 was enough to help Apple's value hit the highest figure ever recorded at the end of a trading day and to become the first publicly traded company to close with a market value of more than US$3 trillion. Only four other US-based publicly traded companies are currently valued at more than US$1 trillion. These companies are Amazon, Nvidia, Microsoft, and Alphabet (Google).
Apple's market cap reached briefly the US$3 trillion milestone back in early 2022. Sadly, it never closed a trading day with a value above this threshold. In the time that passed ever since, the tech giant headquartered in Cupertino unveiled its plans to enter new markets with great potential (for example augmented reality thanks to the recently unveiled Apple Vision Pro which should be available next year) and also had to face an increasing demand for both hardware products and various services. A move like the introduction of USB-C charging for more products, including smartphones, could also have a solid positive impact on the company's medium and long-term stock market performance.
Thanks to the ingredients mentioned above, the company's stock price has managed to grow by more than 50% this year, which started at US$125.07, which is the closing price recorded on January 3 (the first trading day of the year).