Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Apple inches closer to $3 trillion market cap

Stock MarketsDec 08, 2021 11:15AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, U.S., August 1, 2018. REUTERS/Lucas Jackson

By Nivedita Balu and Bansari Mayur Kamdar

(Reuters) - Apple Inc (NASDAQ:AAPL) is within striking distance of a $3 trillion market capitalization, a milestone that would make it as big as the world's fifth largest economy after Germany, just over a year after breaching the $2 trillion mark.

Shares of Apple were up 1.6% at $174. They need to trade at $182.85 to hit the mark and cap a strong rally that has been powered by investors betting on its brand and viewing it as a comparative safe haven.

The stock has jumped about 30% this year on top of an 80% surge in 2020. In comparison, the S&P 500 has risen 25% for the period.

Its peers in the trillion-dollar club - Microsoft, Amazon (NASDAQ:AMZN), Alphabet (NASDAQ:GOOGL) and Tesla (NASDAQ:TSLA) - have all gained between 10% and 70%.

"Apple does seem to be more immune to the ebb and flow of economic forces just because of this really strong brand. It's new product pipeline is pretty strong too," Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown (LON:HRGV) said.

"There is an expectation that Apple is still going to come for you even though there have been some weaknesses in getting hold of the handsets and making sure that they're available for the public."

Apple hit the $1 trillion in market capitalization in 2018 and took two years to double that valuation.

The stock has already breached Wall Street's median price target by $4, with a majority of analysts covering the stock rating it "buy" or higher.

Apple briefly lost its title as the most valuable company to Microsoft Corp (NASDAQ:MSFT) earlier this year after CEO Tim Cook's comments on supply chain woes and the struggle to procure semiconductors and components to make smartphones and laptops.

Microsoft is about $500 billion short of reaching $3 trillion in market capitalization.

Apple inches closer to $3 trillion market cap
 

Related Articles

Israel stocks lower at close of trade; TA 35 down 0.73%
Israel stocks lower at close of trade; TA 35 down 0.73% By Investing.com - Jan 16, 2022

Investing.com – Israel stocks were lower after the close on Sunday, as losses in the Technology, Communication and Banking sectors led shares lower. At the close in Tel Aviv, the...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (2)
MK MK
MK MK Dec 08, 2021 12:05PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nice bubble. Just like usa
Martin Githiga
Martin Githiga Dec 08, 2021 11:29AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
To the moon babe
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email