The market capitalization of Apple, a major U.S. stockholder, briefly surpassed 3 trillion dollars.
Apple surpassed $2 trillion in market capitalization for the first time in U.S. company history in 2020, and even surpassed $3 trillion in market capitalization in more than a year.
Apple closed at $182.01 on the 3rd (local time), up 2.5% from the previous trading day. Apple recorded $182.86 at 3 p.m., surpassing $3 trillion in market capitalization for the first time in the world.
Apple recorded a market capitalization of $1 trillion on August 2, 2018, becoming the first U.S. company to surpass $1 trillion in market capitalization. On August 19, 2020, just two years later, it surpassed $2 trillion in market capitalization. In just over a year since then, the market capitalization has exceeded 3 trillion dollars.
Apple shares have risen steadily despite the COVID-19 pandemic. It jumped more than 35% last year alone.
KT Huberty of Morgan Stanley, a famous analyst, raised Apple’s target price to $200, which was the decisive momentum for the recent surge in stock prices.
“Apple’s stock price is undervalued,” Hubert said in a report. “If Apple shows visible results in augmented reality (AR), virtual reality (VR), and self-driving cars such as Apple Car, the stock price will rise further.”
Experts say that investors’ intensive investment in Apple as the U.S. central bank enters a rate hike mode as inflationary pressure rises, with U.S. inflation hitting a 40-year high, is also an important reason for Apple’s stock price surge.
As Apple achieves $3 trillion, questions are growing over which companies will achieve $3 trillion again.
Microsoft (MS) is a strong candidate to become the second Apple. Microsoft’s market capitalization stood at $2.513 trillion as of this day, ranking second after Apple. It is followed by Alphabet, Amazon, and Tesla.
