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Apple Hits $3 Trillion Market Cap

Stock MarketsJan 03, 2022 02:26PM ET
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© Reuters.

By Sam Boughedda

Investing.com — Apple Inc (NASDAQ:AAPL) become the first company to reach a $3 trillion market value on Monday, as investors pushed the stock well over 2% above its closing price on New Years Eve to an all-time high of $182.88.

The tech powerhouse reached the milestone on the first trading day of 2022, taking just over one year to move from a market value of $2 trillion as the pandemic saw consumers continuously turn to tech gadgets during lockdown periods.

Earlier in the session, Wedbush analyst Daniel Ives provided positive commentary on Apple for 2022. 

Ives told investors in a research note that demand outstripped supply for the company in December. The analyst added that he believes Apple sold over 40 million iPhones during the holiday season, a record number despite chip shortages. He added that China remains a major source of strength for the company.

Apple remains Wedbush's favorite tech stock as they continue to be bullish on the industry in 2022.

 

Apple Hits $3 Trillion Market Cap
 

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Comments (6)
Toyo Shiwata
Toyo Shiwata Jan 04, 2022 1:20AM ET
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apple products are priced ridiculously high, beyond my affordability.
Empire Destroyer
Empire Destroyer Jan 04, 2022 1:20AM ET
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Most get it on buy now pay later or monthly installments. Companies especially start ups in general are leasing expensive IT equipment, works out well if lots of churn or make redundancies. Consumerism is now overbuying and delayed payments or never really shell out full whack, just pay more over time
Adam Paine
Adam Paine Jan 04, 2022 1:13AM ET
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what's next quadrillion? or how about bazillion how about they give three Foxcon workers in India a healthy lunch or better yet maybe 180k each
Chris Ru
Chris Ru Jan 03, 2022 4:12PM ET
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Apple had made the same phone last 5+years with no new innovation... landslide will come and wash away the insane price tag on these tech companies
Empire Destroyer
Empire Destroyer Jan 03, 2022 4:12PM ET
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You'll need like a purge of iSheeps and people who for some reason think Android and Windows are not user friendly. Man I have a MacBook for work and feels like to do some basic stuff, I need the button combinations of how I used to change guns/weapons in Counterstrike
Undug Bn
Undug Bn Jan 03, 2022 2:55PM ET
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Amazing
andres najera
andres najera Jan 03, 2022 2:41PM ET
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Nice
You can How are
You can How are Jan 03, 2022 2:41PM ET
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Costinho Mokoena
Costinho Mokoena Jan 03, 2022 2:38PM ET
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Tesla will reach $3.5 trillion first !.. and Eventually hitting $4 trillion and surpassing Apple this year !!.. tesla will become the most valuable company in the world
Lilianjones Joned
Lilianjones Joned Jan 03, 2022 2:38PM ET
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Do you only invest in tesla
Robert Cox
Robert Cox Jan 03, 2022 2:38PM ET
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Or the bubble will burst and TSLA will be worth something more reasonable. I think JP Morgan has a price target sub-$100.
raminbey Rami
raminbey Rami Jan 03, 2022 2:38PM ET
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Tesla is casino not market
Hosea Akwaake
Hosea Akwaake Jan 03, 2022 2:38PM ET
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The risings of these stocks are good for retailers
Peter O Neill
Peter O Neill Jan 03, 2022 2:38PM ET
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Keep smoking that stuff ;) Tesla made a profit of $1.6 Billion last year and with a lot of that only due to tax write offs due to years of losses (yet speculation has it at a market cap just shy of $1.2 Trillion). Apple made just shy of $100 billion and is also overvalued based on past and foreward PE ratios versus it's long term averages by about 30%. Eventually inflation, interest rates and labour shortages will burn into both values this year. No more fed printing presses to support the bubble.
 
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