(AAPL) Apple becomes the first $3 trillion company again

Jun 30, 2023, 2:45 AM UTC
2 mins read
(AAPL) Apple becomes the first $3 trillion company again

Apple Inc. (AAPL) has once again made headlines by surpassing the $3 trillion market cap mark. On January 3rd, 2022, Apple briefly reached this historic milestone, and now, it has once again achieved this remarkable feat. As trading commenced on Friday, individual AAPL shares soared above $192, firmly establishing Apple as the first company to end a day with a market cap exceeding $3 trillion. The share price maintained its upward trajectory throughout the day, eventually closing at an impressive $193.97.

(AAPL) Apple becomes the first $3 trillion company again
Screenshot of Apple’s stock (AAPL) from Google Finance.

Currently, Apple is the world’s most valuable company, but it is not alone in the trillion-dollar club. Four other U.S. companies—Microsoft, Alphabet (Google), Amazon, and NVIDIA—boast market caps of over $1 trillion, with Microsoft leading the pack at approximately $2.5 trillion. Nonetheless, Apple’s exceptional performance in the market cements its position as a true industry leader.

CEO Tim Cook reported record-breaking numbers for Apple in May 2023, emphasizing the company’s all-time high installed base of active devices. Despite slight declines in divisions such as Mac and iPad compared to the previous year, Cook highlighted exceptional results in services and a March quarter record for iPhone sales. Apple continues to thrive, recently introducing the new 15-inch version of the MacBook Air laptop, a testament to its commitment to innovation.

Renowned analyst Dan Ives of Wedbush Securities predicts even greater success for Apple, suggesting that the company could achieve a $4 trillion market cap by 2025. In a note, Ives mentioned that approximately 25 percent of Apple’s install base has not upgraded their phones in over four years. This statistic presents a significant opportunity for Apple, as the imminent release of new iPhones later this year could ignite a “mini super cycle” for iPhone 15, resulting in a surge in upgrades and sales.

Apple’s aspirations extend beyond smartphones. Although its augmented reality (AR) platform and Vision Pro AR headset are still in their early stages, they hold tremendous potential for the company’s future. Ives also highlighted the prospects of a new app store specifically designed for this new form factor. Leveraging the Apple developer ecosystem, this development could provide a substantial advantage for Apple in the ongoing technological battle for developers.

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