Stock Groups

Apple Hits $3 Trillion Market Cap -Breaking

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© Reuters.

Sam Boughedda

Investing.com — Apple Inc. (NASDAQ) was the first company to surpass a $3 Trillion market value Monday. This happened because investors drove the stock over 2% higher than its close price of New Years Eve, to an all-time high of $182.88.

It took just more than one year for the tech giant to reach the landmark. The company had a market capitalization of $2 trillion, but it was only the beginning of trading in 2022. This came after the pandemic that saw people constantly turn to their tech devices during lockdown periods.

Daniel Ives from Wedbush provided positive commentary earlier in session on Apple 2022. 

In a research note, Ives stated to investors that December saw a surge in demand for Apple’s products. According to the analyst, Apple sold 40 million iPhones over Christmas, an unprecedented number in spite of chip shortages. The analyst stated that China is still a key source of strength.

Wedbush remains bullish on Apple’s tech stocks in 2022.

 

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