Apple, the tech giant, has recaptured its title as the world’s most valuable company, achieving the remarkable feat of reaching a $3 trillion market cap. This achievement was witnessed for the first time on January 3rd, 2022, and now, on a recent Friday, the company’s individual AAPL shares soared above $192 during trading, pushing its market cap back to the coveted $3 trillion mark.
Summary: After reaching the milestone briefly in 2022, Apple has once again become a $3 trillion company, becoming the only company ever to achieve this feat. Investors are optimistic about the upcoming iPhone 15 and AR platform growth, promoting the stock to new records despite challenges.
In May, Apple’s CEO, Tim Cook, proudly announced that the company achieved an all-time high in its installed base of active devices. Additionally, services and iPhone sales also hit all-time records in the March quarter, despite some divisions like Mac and iPad reporting a slight dip in performance compared to the previous year. Nevertheless, Apple remains resilient in the face of challenges and recently introduced a new 15-inch version of the MacBook Air laptop.
Looking ahead, renowned analyst Dan Ives from Wedbush Securities predicts an even brighter future for Apple. He speculates that the company might achieve a staggering $4 trillion market cap by 2025. His optimism is based on the fact that a significant portion of the install base, approximately 25%, has not upgraded their iPhones in over four years. This could potentially lead to a “mini super cycle iPhone 15” when the new phones hit the market later this year.
While Apple’s AR platform and Vision Pro AR headset are still in the early stages of development, they represent another avenue of growth and potential for the company. Ives points out that a new app store built around this technology, along with Apple’s robust developer ecosystem, could give them a competitive advantage in the tech battle for developers.
Notably, this achievement comes in the wake of Apple’s risky launch of the Apple Vision Pro, an augmented reality device with impressive features but limited mainstream consumer adoption. Despite this, the company’s quarterly earnings report in May surpassed expectations, reflecting investors’ confidence in Apple’s vision and strategies.
The $3 trillion valuation cements Apple’s position as the most valuable company in history, an unparalleled accomplishment in the corporate world. Its stock has soared nearly 46% this year, outperforming other tech giants and reflecting the current surge in Big Tech stocks.
Also read: Apple Released iOS 17 Beta 2: All The New Features
Conclusion
Apple’s relentless pursuit of innovation, coupled with the anticipated launch of the iPhone 15 and the potential of its AR ventures, has propelled it back to the $3 trillion throne. The company’s resilience and commitment to growth have positioned it as a shining star in the turbulent tech sector, a position it aims to strengthen in the coming months and years. With its market cap once again reaching new heights, the world watches as Apple continues to redefine possibilities in the tech industry.
