Apple Inc. became the first company to ever close with a market value of US$3 trillion. Read more
“The reason Apple has outperformed for more than a decade isn’t because investors are being foolhardy, but because it is executing on a business strategy that works, its earnings plan is working, and its lock on the consumer is only getting stronger,” said Jonathan Curtis, director of portfolio management for Franklin Equity Group.
“The balance sheet is phenomenal, it pays a dividend it can continue to grow, it has an active repurchasing program, and a consumer staples-esque platform business, all powered by a device people look at four hours a day,” Curtis said. In a sign of Wall Street’s ongoing optimism about the stock, Citi on Thursday began coverage of Apple with a buy rating, writing that its ability to continue expanding margins was underappreciated. It sees additional upside of about 30 per cent for the stock, a target that would take Apple close to a US$4 trillion valuation.Article contentApple first became the world’s most valuable stock in 2011, when its market cap was under US$340 billion and it comprised about 3.
The iPhone maker briefly rose above the US$3 trillion level in early 2022, although it failed to close above it, and that peak marked the start of a downtrend that has now been fully erased. Companies of this size are few and far between, and in the U.S. the club is populated only by other megacap technology and internet stocks, including
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple becomes the first public company to be valued at US$3-trillionThough significance of reaching a $3-trillion market value is largely symbolic, its magnitude is still breathtaking
Read more »
Apple hits historic $3 trillion market capApple Inc. became the first company to ever close with a market value of US$3 trillion. Read more
Read more »
Apple hits historic $3 trillion market capApple Inc. became the first company to ever close with a market value of US$3 trillion. Read more
Read more »
Apple hits historic $3 trillion market capApple Inc. became the first company to ever close with a market value of US$3 trillion. Read more
Read more »
Bay Street financier Andrew DeFrancesco agrees to pay US$3-million to settle SEC fraud allegationsThe Securities and Exchange Commission sued DeFrancesco and four others alleging they participated in a 2018 “pump-and-dump” scheme
Read more »
The IMF agrees to a long-awaited bailout for Pakistan of US$3 billionThe International Monetary Fund agreed to provide US$3 billion to Pakistan, a long-awaited relief to bail out the impoverished country's ailing economy.
Read more »