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 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
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<p class="has-drop-cap">Apple’s shares rose 0.84% to a new record high on Thursday of $185.5 per share. The company is now valued at $2.93 trillion, coming in a range of the landmark $3 trillion market cap.&nbsp;The stock has gained over 42% since the start of the year. </p> 
<h3 id="apple-shares-up-42-in-2023">Apple Shares up 42% in 2023</h3> 
<p>Shares of Apple inked a new all-time high on June 15, 2023, the stock’s second consecutive record high in two days. When writing, the company’s shares traded at $185.5, up 0.84% on the day.</p> 
<p>The tech giant’s stock <a href="https://tokenist.com/apple-drops-2-2-in-after-hours-as-it-unveils-high-price-tag-for-new-ar-set/" rel="dofollow" class="deco-link">experienced a notable dip</a> earlier this month after it announced its first major product in nearly a decade – a virtual reality (VR) headset called “<a href="https://tokenist.com/can-apple-squeeze-meta-out-of-the-metaverse-headset-plans-revealed/" class="deco-link">Apple Vision Pro</a>.” Following the announcement, Apple’s shares slipped to $177.79 before embarking on another upward trajectory that propelled its price to a new peak.</p> 
<p>With today’s surge, Apple’s share price is now up more than 42% since the start of 2023, marking an impressive comeback after a 27% drop in 2022. Apart from the broader <a href="https://tokenist.com/ten-companies-account-for-35-of-the-sp-500-market-cap/" rel="dofollow" class="deco-link">tech market rally</a> fueled by improving macroeconomic conditions, the company’s stock price increase was also driven by other factors such as stronger-than-expected <a aria-label="financial results (opens in a new tab)" href="https://www.reuters.com/technology/apples-results-send-shares-surging-nine-month-high-2023-05-05/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">financial results</a>, remarkable cash flow, and a strong business model.</p> 
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<h3 id="apple-edges-closer-to-3-trillion-valuation">Apple Edges Closer to $3 Trillion Valuation</h3> 
<p>Apple’s most recent stock price jump puts the company closer to hitting the landmark $3 trillion valuation mark and reinforces its position as the world’s biggest company by market cap. Microsoft and Saudi Aramco sit behind Apple, with market caps of $2.54 trillion and $2.09 trillion, respectively.</p> 
<p>Other companies that are on the <a aria-label="list of most valuable companies (opens in a new tab)" href="https://companiesmarketcap.com/" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">list of most valuable companies</a> on the globe include Google owner Alphabet ($1.5 trillion), Amazon ($1.2 trillion), and Nvidia ($1.05 trillion). Companies that are below the $1 trillion threshold but still among the top 10 are Tesla ($816 billion), Warren Buffet’s Berkshire Hathaway ($741 billion), and Meta Platforms ($710 billion).&nbsp;</p> 
<p>Earlier this month, Wedbush analyst <a aria-label="Dan Ives voiced (opens in a new tab)" href="https://twitter.com/DivesTech/status/1666394803318161408?t=2ZncwDb7cW6Ie3RdvWl5QA&amp;s=19" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Dan Ives voiced</a> his bullishness on Apple’s stock, saying he believes the company could be worth $4 trillion by fiscal 2025. One of the factors that could play a major role in Apple’s future growth is the imminent iPhone 15 product cycle which could prove to be “another trophy case moment” for the Cupertino, California-based company.&nbsp;</p> 
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<p><em><strong>Would any other company threaten Apple’s position as the world’s most valuable business in the next few years? Let us know in the comments below.&nbsp;</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/apple-closing-in-on-3-trillion-valuation-as-shares-hit-new-ath/">Apple Closing in On $3 Trillion Valuation as Shares Hit New ATH</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Apple Closing in On $3 Trillion Valuation as Shares Hit New ATH

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