The tech giant’s stock rose more than 2% to $193.97 per share at the closing bell on Friday after finishing at a record high in each of its previous two trading sessions.
Apple became the first company ever to close a trading day with a $3 trillion valuation on Friday – hitting the milestone as investors look ahead to the highly-scrutinized releases like the iPhone 15 and the Vision Pro mixed-reality headset.
Apple previously became the first company in history to hit the $3 trillion mark in intraday trading on Jan. 3, 2022. But the shares ended up closing below the threshold and never crossed it again as the Ukraine invasion and rate hikes from the Federal Reserve began to slam tech stocks. At $3 trillion, Apple’s market value makes it larger than Alphabet and Amazon combined. It’s also worth nearly $500 billion more than its nearest rival, Microsoft, and eclipses the GDP of four of the world’s 10 biggest economies: France, Russia, Canada and Italy.
Wedbush analyst Daniel Ives, a noted Apple bull, has set a $220 price target for shares and argued in a note this week that a “fair valuation could be in the $3.5 trillion range with a bull case $4 trillion valuation” by fiscal 2025.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Teamsters give UPS ultimatum, demanding best contract offer by Friday or risk 'imminent' strikeThe Teamsters, which represents UPS workers, demanded UPS officials return its best contract offering for its employees by Friday or risk 'imminent' strike.
Read more »
Free Agency Opens for the Rockets Friday: Four ThoughtsThe Rockets enter free agency on Friday with over $60 million in cap space to spend on veterans they want and need to balance out an incredibly young roster. Coach Ime Udoka means to put his stamp on this young team and GM Rafael Stone will try to figure out...
Read more »
Geneva Airport says flight cancellations likely as strike set for FridayGeneva Airport said some of its employees were planning to stage a strike on Friday that was likely to cause flight delays and cancellations at the start of the summer travel season.
Read more »
Nicki Minaj Announces 'Pink Friday 2' While Pushing Album BackNicki Minaj is pushing back the release date of her next album ... but as consolation for the fans, she officially revealed the project to be a sequel to her debut 'Pink Friday.'
Read more »
Teamsters give UPS ultimatum, demanding best contract offer by Friday or risk 'imminent' strikeThe Teamsters union says a UPS driver strike is 'inevitable' if UPS does not return a ' best and final offer,' by Friday, June 30.
Read more »