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Apple Hits $3 Trillion Market Cap

Published 01/03/2022, 02:25 PM
Updated 01/03/2022, 02:26 PM
© 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.

 

Latest comments

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
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
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
Amazing
Nice
47
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
Tesla is casino not market
The risings of these stocks are good for retailers
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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