Apple's June quarter was a huge success, with a valuation of $3 trillion for the first time.
Apple's stock rose 2.3% in Friday trading to have a market capitalization of more than $3 trillion. The company did not previously close trading at a milestone price, although the company closed on January 3, 2022, when its intraday trading price could have reached that valuation level, but failed to close here.
The smartphone giant became the first U.S. company to reach a valuation of $3 trillion. According to Dow Jones market data, its market capitalization alone exceeds the total market capitalization of the utilities, real estate, and materials sectors of the S&P 500.
According to Dow Jones market data, Apple shares closed at the $3 trillion mark after 719 trading days after breaking the $2 trillion mark.
Apple's stock closed Friday worth $3 trillion and was the only company to reach that milestone. The Nasdaq has been riding the big tech wave, delivering its best first-half gain in 40 years.
Apple shares rose more than 2% on Friday to a record $193.97. With 15.7 billion shares outstanding, the share price pushed Apple's market capitalization to an all-time high.
Apple has also had this happen before: on January 3, 2022, Apple hit the $3 trillion mark in intraday trading, but failed to close.
The company's shares closed Thursday with a record high for the third straight day, but rose just 0.2 percent. At the opening of trading on Friday, Apple easily broke the $190.73 mark and crossed the $3 trillion mark.
Earlier this month, the tech giant ventured out of the Apple Vision Pro and released a stronger-than-expected quarterly earnings report in May, and despite a sharp drop in sales and profits, the tech giant's valuation reached sky-high prices.
Vision Pro will be available next year, impressing tech journalists who were the first to preview the augmented reality device. But it's making its way into an emerging market that mainstream consumers rarely adopt. Apple plans to charge up to $3,499 for its headphones, which currently have limited apps and experiences and require users to use an iPhone-sized battery pack.
Big tech stocks rose sharply as investors jumped on the AI bandwagon, with Apple Inc. (AAPL) surging 49% this year. Nvidia (NVDA) leads the S&P 500 this year with a 190% gain, followed by Meta (META) with a 138% gain.
The Nasdaq rose 31.7% in the first half of the year, its biggest first-half gain since 1983.
Apple's stock market success this year contrasts sharply with 2022. At the beginning of 2023, Apple's trading market capitalization fell below $2 trillion for the first time since the beginning of 2021.
Wall Street ended the first half of 2023 on a positive note, with the rally in technology stocks causing the market to close higher that month and the second quarter of the year.
The S&P 500 rose 6.5% in June, its best monthly performance since January. It also posted its third consecutive quarter of growth, with an 8.3% increase in the second quarter. So far this year, the S&P 500 is up about 15.9%, which is half the best since 2019.
#暑期创作大赛#