Apple’s Market Cap Hits $3 Trillion
Apple Inc. has once again reached a market value of $3 trillion, achieving this milestone on Tuesday after over four months. The company’s shares, trading under the ticker symbol AAPL, closed up by 2.1% during Tuesday’s session, resulting in a market capitalization of $3.01 trillion. This is the first time since August 3 that Apple has been valued in the $3 trillion range, according to Dow Jones Market Data.
Impressive Performance in 2023
Apple’s stock has already shown significant growth in 2023, with an increase of 49%. If this trend continues, the company will achieve its best yearly performance since 2020 when it experienced an impressive 81% surge.
The Magnificent Seven’s Performance Comparison
While Apple has demonstrated strong gains year-to-date, it lags behind some of its peers in the tech industry. Alphabet Inc., represented by the ticker symbols GOOG and GOOGL, has seen a 48% rise in its stock value this year. Similarly, Microsoft Corp. (MSFT), Amazon.com Inc. (AMZN), Tesla Inc. (TSLA), Meta Platforms Inc. (formerly known as Facebook – META), and Nvidia Corp. (NVDA) have all experienced more substantial increases in their share prices.
Opinion: 3 Reasons to Consider Owning the ‘Magnificent Seven’ Stocks
