Apple nears $3 trillion market cap
AAPL shares are continuing to hit all-time highs in December, with Apple setting new market records five times this month, closing on $180.33 on Monday.
As noted by PED30 (via 9to5Mac), Apple is now nearing a $3 trillion market cap, with today potentially being the day the company crosses the line to become the first publicly traded company ever to be worth $3 trillion.
Apple has been close to hitting a $3 trillion market cap before, but PED30 cites a “Santa Claus” rally as the driving force which could boost AAPL further up the market cap ladder today.
Apple shares rose in premarket trading on Tuesday, with the iPhone maker on track for a fifth straight positive session as it inches closer to a historic $3 trillion market value that has proved elusive for weeks. The stock rose 0.4% to $180.96 before the bell, amid a positive session for equity futures. Based on Apple’s outstanding shares, it will reach $3 trillion if the stock hits $182.86; it rose as high as $182.13 in intraday trading this month. Should Apple reach the milestone, it would be the first time any company has done so.
Apple hit the $2 trillion mark in last August, becoming the first company ever to hit such a high mark valuation, leading the way ahead of Amazon, Microsoft, Amazon, and Alphabet.
The company posted its financial earnings results for the fourth fiscal quarter of 2021 at the end of October, reporting a September quarter revenue record of $83.4 billion, up 29 percent year over year.