Apple is now the first public company with a market value of more than $3 trillion

Apple is the first public company with a market value of more than $3 trillion. Shares of the company rose about 2.31% on Friday, hitting a new high. The tech giant first hit a $3 trillion market cap in January 2022, but failed to reach that milestone. , Apple shares are up nearly 46% this year.

The company’s success in the stock market this year stands in stark contrast to 2022. Earlier this year, Apple’s market cap fell below $2 trillion for the first time since early 2021.

A $3,499 headset that forces users to stay connected with an iPhone-sized battery will go on sale next year. Wall Street and Silicon Valley joined the AI ​​hype that sparked the debut of ChatGPT OpenAI in late 2022.Since then companies like Microsoft, Google, Nvidia and Meta have jumped on the AI ​​bandwagon.

Nvidia leads the S&P 500 with a 181% gain this year. The goal is a jump of 137%. Apple has largely stayed away from mentioning AI while its competitors have focused on the emerging technology. It should be noted that another four U.S companies are valued at over $1 trillion, including Alphabet, Microsoft, Amazon and Nvidia.

Apple posted better-than-expected quarterly earnings in May, even as the tech giant’s sales and profits fell. The company’s performance has boosted its reputation with investors.

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