Apple Inc.’s stock-market value briefly rose above $3 trillion today, shattering another record. bigtech techshares markets
Apple Inc.’s stock-market value briefly rose above $3 trillion on Monday, shattering yet another record and underscoring how the pandemic has turbocharged Big Tech’s decades-long rise. The shares rose as much as 3% to trade at $182.88 in afternoon trading in New York before paring some of its gains. It last traded at $182.16, a gain of 2.6% that represents a market cap of about $2.99 trillion.
The stock first reached $1 trillion in value in mid-2018, and achieved a $2 trillion valuation in August 2020. While it was the first U.S. company to surpass that level, Saudi Aramco was the first $2 trillion company overall. Apple’s size means it has a pronounced influence on the overall equity market; its weight within the S&P 500 Index is 7%. Ever since it first became the world’s most valuable stock in 2011 — when its market cap was under $340 billion and it comprised about 3.
Despite the optimistic outlook, there are risks to Apple’s forward march. The company is facing the toughest regulatory atmosphere in its history, with governments bearing down in the U.S. and India over its App Store practices and dealings with third-party developers. Any laws impacting Apple’s practices could limit its income from Services, now one of the company’s most important segments. From a product perspective, Apple is also hitting snags and contending with new rivals.
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