If there is anything planted in the hearts of most of us, that is an ardent desire to leave a lasting legacy, in whatever sometimes bizarre form it may be. How about setting a record for building up the largest collection of action figures, throwing the longest stand-up comedy show, or visiting most pubs? The last one is particularly right up our alley – he-he-he! Nevertheless, all of these pursuits pale compared to Apple's astonishing feat of reaching a market value of $3 trillion. That's what we call a truly remarkable heritage!
On June 30, 2023, Apple Inc's stock market value ended a trading session above $3 trillion for the first time in history. The shares of this esteemed company surged by 2.3% to $193.97, resulting in a market capitalization of $3.05 trillion. This figure surpasses the combined worth of Alphabet and Amazon, an extraordinary achievement indeed. Unlike January 2022, this time, Apple managed to maintain its position until the end of the trading session.
Apple's $3 trillion milestone follows the introduction of a costly augmented-reality headset on June 5, marking its riskiest venture in over a decade. Even though this engineering marvel failed to impress investors during the product infomercial, Apple stock has experienced a growth of approximately 5% since then.
Throughout the year, Apple has surged by almost 48%. This progress can largely be attributed to the anticipated conclusion of the Fed’s interest rate hikes campaign and the optimism surrounding the potential of AI. Though Apple has been avoiding mentions of AI, both Wall Street and Silicon Valley have been all over the AI hype.
Since OpenAI’s ChatGPT, companies like Microsoft, Google, Nvidia, and Meta have joined the AI movement. Nvidia leads the S&P 500 with a staggering 181% surge in value this year, closely followed by Meta with an impressive 137% increase.
Thus, it would be safe to say that the market offers abundant opportunities. However, any trading decision should be preceded by thorough research and primarily based on your knowledge. Disregarding this advice can cost you a fortune.
