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Apple inches closer to $3 trillion market value -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: A screen showing the Apple Inc. logo is displayed on the Nasdaq market site exterior following the end of trading in New York City. New York, U.S.A. August 2, 2018. REUTERS/Mike Segar

(Reuters: Apple Inc shares rose 1% on Monday. The iPhone maker is now within striking distance of reaching $3 trillion in market capitalization.

On Monday, the company’s shares rose by about 1% to $181.12, barely $2 short of the milestone. Apple’s stock rose by nearly 11% in the last week to record levels over four sessions.

Apple’s share price has risen this year, as investors believe that Apple users will continue to spend top-dollar for iPhones, MacBooks, as well as services like Apple TV and Apple Music.

Apple will reach the landmark Microsoft Corp (NASDAQ.) is likely to be the company that has reached the $2 trillion mark, while Alphabet (NASDAQ.), Amazon (NASDAQ.) and Tesla(NASDAQ.) all have surpassed $1 trillion.

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