British media: Apple's market value is expected to reach $3 trillion ahead of other competitors

According to the British "Daily Telegraph" website reported on December 7, Apple is about to become the world's first company with a market value of $3 trillion.

Apple's stock price rose more than 3 percent, breaking a record $170, bringing the company's market capitalization to $2.8 trillion, further ahead of its U.S. rivals.

The rise was triggered by Morgan Stanley analysts setting Apple's stock price expectation at $200, which means the company's market capitalization will exceed $3.2 trillion. The investment bank said investors were underestimating the value of Apple's new products in the future.

Microsoft's market capitalization reportedly is $2.5 trillion, briefly overtaking Apple in October. Google's parent companies Alphabet and Amazon are both worth less than $2 trillion.

For much of the past decade, Apple, which Jobs co-founded with others, has been the most valuable company in the world and became the first company to reach a trillion-dollar market capitalization in 2018.

Apple's market capitalization reportedly just reached $2 trillion last year, and its stock price has risen by another 40 percent since then.

Since the outbreak, the market capitalization of the five largest U.S. technology companies — Apple, Amazon, Microsoft, Alphabet and Facebook — has risen sharply.

Morgan Stanley said Apple's value will increase as investors turn their attention to new projects like virtual and augmented reality (AR/VR) and driverless cars.

Analysts predict that Apple's VR headsets will bring in $29 billion in revenue per year by 2026.

Apple has never confirmed plans for a VR headset, but has applied for a patent related to the technology and is expected to launch the device as early as next year. (Compilation / Qing Songzhu)

Source: Reference News Network