It’s a great time to be an AAPL investor, with the share price hitting an all-time high value on Wednesday. This drove Apple’s market capitalization back over $3 trillion.
For reference, Apple’s market cap was below $2 trillion at the beginning of 2023.
Apple market cap hits a milestone… again
Apple’s share price has had an up-and-down couple of years. At the beginning of 2022, it passed the $3 trillion mark, the first publicly traded company to do so. Exactly a year later, it was below $2 trillion amidst a general pessimism about tech stocks. Investors were primed for a recession that never happened.
As they gradually woke up to the fact that the U.S. economy wasn’t about to tank, the price of AAPL went up. It started in January about $125, and closed Wednesday at just under $198.
The market cap figure is calculated by multiplying the total number of AAPL shares by the current value of each one. While that sounds simple, it’s more complicated than it seems because Apple has a policy of buying its own shares and retiring them. That means it’s not easy to say exactly how many outstanding shares there are at any given moment. The $3 trillion market capitalization figure comes from experts at Yahoo Finance.
Apple share price flirts with $200
As noted, the share price for the world’s most valuable publicly traded company hit a new high on Wednesday as the value went up 1.65%. And on Thursday the price is up again. It might pass $200.
The rise isn’t related to anything Tim Cook and Co. are doing now. It’s about the U.S. economy. The Federal Reserve announced Wednesday that it’s holding steady on interest rates, and laid out plans to lower them in 2024. The Fed is responding to U.S. inflation nearing its target of 2% while the economy remains robust.
That’s good for Apple, and for AAPL. The market capitalization is going up again.
