Apple's value hits $3 trillion

Apple became the first company to reach a market capitalization of $3,000 billion, as technology stocks have recently been favored by the AI wave.

Apple's stock price has set a record for four consecutive sessions. At the opening of the trading session on June 30, the code easily surpassed the $190.7 mark - the level needed to reach $3,000 billion.

At the close, Apple shares rose more than 2% to a record $193.90. With $15.7 billion in outstanding shares, Apple reached a market capitalization of $3.05 trillion for the first time.

On January 3, 2022, Apple's capitalization also reached the $3 trillion mark, but could not hold it until the end.

Apple shares have been on a steady rise since the beginning of the year. Chart: Bloomberg

Apple's stock performance this year is the opposite of 2022. At the beginning of the year, Apple's market capitalization was below $2,000 billion.

Apple shares rose after the company unveiled its Vision Pro glasses earlier this month. Last month, the company reported better-than-expected first-quarter earnings, despite falling revenue and profits. The Vision Pro glasses will go on sale next year, but will cost a hefty $3,499.

Apple shares have surged 49% this year, amid a broader rally in Big Tech stocks as investors bet on the AI wave. Chipmaker Nvidia has been the biggest gainer, up 190%, followed by Meta, up 138%.

The Nasdaq, which is heavily weighted toward technology stocks, has gained 31.7% in the first half of the year, its best first half since 1983.

The S&P 500 also rose 6.5% this month – its best performance of the year. The index has risen for three consecutive quarters and is up 15.9% this year.

Ha Thu (according to CNN)

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