Last Updated: June 29, 2023, 03:46 IST<\/span><\/p>\n<\/div>\n New York, United States of America (USA)<\/span><\/p>\n<\/div>\n<\/div>\n Apple has yet to end a trading session with a stock market value above $3 trillion. <\/p>\n<\/div>\n Apple\u2019s stock climbed to a record high close on Wednesday and was on the cusp of a $3 trillion market capitalization.<\/p>\n The iPhone maker\u2019s stock rose 0.6% to end the day at $189.25, putting Apple\u2019s market value at $2.98 trillion, according to Refinitiv data. It was the second straight record high close for Apple\u2019s shares.<\/p>\n Apple has yet to end a trading session with a stock market value above $3 trillion. It briefly peaked above $3 trillion in intra-day trading on Jan. 3, 2022 before closing the session just below that mark.<\/p>\n The latest gains in shares of the world\u2019s most valuable company follow strong rebounds this year from several of Wall Street\u2019s technology-related heavyweights, fueled by bets that the Federal Reserve is nearing the end of its campaign of U.S. interest rate hikes, and by optimism about the potential for artificial intelligence.<\/p>\n \u201cThere hasn\u2019t really been any new information fundamentally that would be supportive of the stock move,\u201d said Thomas Martin, Senior Portfolio Manager at Globalt Investments. \u201cWhat you\u2019re left with is, you know, the market itself.\u201d<\/p>\n Apple has jumped 46% in 2023, while Nvidia has surged 185%, making it the first chipmaker with a stock market value over $1 trillion. Tesla and Meta Platforms have more than doubled this year, and Microsoft has added 40%.<\/p>\n Apple\u2019s approach toward its $3 trillion milestone follows the June 5 launch of a pricey augmented-reality headset, its riskiest bet since the introduction of the iPhone more than a decade ago.<\/p>\n As well, Apple\u2019s most recent quarterly report in May showed a drop in revenue and profits, but still beat analysts\u2019 expectations.<\/p>\n Along with a steady track record of stock buybacks, those financial results reinforced its reputation among investors as a safe investment at a time of global economic uncertainty.<\/p>\n Recent gains in Apple\u2019s shares have outpaced analysts\u2019 estimates for the company\u2019s future earnings. The stock is now trading at about 29 times expected earnings, its highest multiple since February 2022, according to Refinitiv data.<\/p>\n (This story has not been edited by News18 staff and is published from a syndicated news agency feed – Reuters<\/a>)<\/i> <\/div>\n [ad_2] [ad_1] Last Updated: June 29, 2023, 03:46 IST New York, United States of America (USA) Apple has yet to end a trading session with a stock market value above $3 trillion. The iPhone maker\u2019s stock rose 0.6% to end the day at $189.25, putting Apple\u2019s market value at $2.98 trillion, according to Refinitiv data Apple\u2019s … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":4133,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[107],"tags":[],"class_list":["post-4132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech"],"_links":{"self":[{"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/posts\/4132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4132"}],"version-history":[{"count":0,"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/posts\/4132\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=\/wp\/v2\/media\/4133"}],"wp:attachment":[{"href":"https:\/\/bscrackers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bscrackers.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}![\"Apple](\"https:\/\/images.news18.com\/ibnlive\/uploads\/2021\/07\/1627283897_news18_logo-1200x800.jpg?impolicy=website&width=510&height=356\" "\\"Apple"){kind=logo}
<\/figure>\nThe iPhone maker\u2019s stock rose 0.6% to end the day at $189.25, putting Apple\u2019s market value at $2.98 trillion, according to Refinitiv data<\/h2>\n<\/div>\n<\/div>\n
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