Apple has been at the top of the list of the most valuable publicly traded company in the world and as of recently has literally outdone itself. Apple ends June by announcing the company has hit a $3 trillion milestone in market value, the first publicly traded company ever to do so.
As reported by TechCrunch, the company’s “stock has skyrocketed nearly 46 percent this year,” significantly jumping up from under $2 trillion reported earlier this year. Shares are selling for $193.97 each.
“Apple [is] playing chess while others play checkers,” said Wedbush analysts as reported by AppleInsider. “In FY24 the Cupertino stalwart is on pace to approach $100 billion of annual services revenue growing double digits which is a jaw dropping trajectory vs. the roughly $50 billion+ of services revenue that Apple was delivering only in FY20. We believe Apple’s fair valuation could be in the $3.5 trillion range with a bull case $4 trillion valuation by FY25.”
Apple has a fiercely loyal group of customers who have integrated the company’s various products into their daily lives. From iPhones to smart watches to earbuds, the company has consumers hooked.
The company is constantly looking for new areas to invest and innovate, so Apple should stay secure with its $3 billion market value. There are several Apple products in the works and a few are prepping for release.
Vision Pro, Apple’s virtual reality headset promising to be “like nothing you’ve ever seen before”, is pending a long-anticipated launch sometime next year. Apple is also gearing up for its latest iPhone release. The iPhone 15 doesn’t have an official launch date yet, but its likely to debut in October. Most of the details known about the upcoming model are being reported from leaks, so it’s pretty much just speculation at best at this point.