- Tram Ho
Citing data from Refinitiv, Reuters said that at the end of the session, Apple shares rose 2.31% to reach $ 193.97 share. At this price, Apple’s market capitalization has reached 3.051 billion USD. Notably, this is the 4th session in a row that Apple’s stock has set a new record.
Apple was the first company to hit a market cap of $3 trillion in one trading session in March 1, 2022, but closed lower.
Apple shares set a new record thanks to positive signals in the fight against inflation in the US as well as investors betting on the possibility that the iPhone maker will succeed in tapping new markets. A report from the US Department of Commerce showed that the US personal consumption expenditures (PCE) price index increased less in May than in April, reflecting progress in the Federal Reserve’s fight against inflation. US Federal Reserve.
Statistics show that Apple’s market capitalization has increased by 49% since the beginning of 2023. This increase is believed to come from investors’ belief that the FED’s fight against inflation is coming to an end as well. as optimism about the potential in the field of artificial intelligence.
In addition, in the most recent quarter report, even though revenue and profit declined, they both beat investors’ expectations. Along with that, Apple’s continuous repurchase of shares as well as stable financial results also help Apple’s capitalization value continuously increase despite the instability of the global economy.
“Many people who bet on Apple’s decline are scratching their heads. Because they believe that Apple will experience a ‘phase of growth break’ amid difficult circumstances. But we firmly believe that the opposite will happen. The US tech giant is heading for strong growth over the next 12-18 months,” said Wedbush analyst Dan Ives.
Not only Apple, recent trading sessions also witnessed a strong increase in the share price of technology giants such as Nvidia, Tesla.. Statistics show that the share price of Tesla and Meta (the parent company of Facebook) ) has doubled this year. Nvidia jumped 190% to join the $1 trillion club.
Currently, after Apple, there are 4 other US companies with a market capitalization of more than 1 trillion USD: Alphabet (Google’s parent company), Amazon, Nvidia and Microsoft. Notably, Microsoft ranked second with a market capitalization of more than 2.5 trillion USD.