Apple reaches three trillion stock market valuation, twice the Spanish GDP

2023-06-30 18:27:22

Apple has managed this Friday to exceed three trillion dollars in value on the Stock Market, something that the multinational had achieved for the first time in January 2022, although then the company was unable to maintain that capitalization at the close of the session. After the opening of Wall Street, Apple shares climbed more than 1.5% to comfortably exceed $190.73 per share, which raised the company’s capitalization to three trillion dollars. The American company already momentarily touched that symbolic figure in January 2022 and became the first company to achieve it, but until now it has never managed to close above that value.

Apple’s titles have appreciated more than 53% so far in 2023, allowing the Cupertino multinational to increase its capitalization by more than one trillion dollars. In January 2007, after announcing the launch of the iPhone for June of that same year, Apple’s shares were trading below $9. Apple became the first US company to reach $1 trillion in 2018, nearly four decades after going public, and doubled that value in just two years thanks to the push from the pandemic. On August 19, 2020, it was the first listed US company to reach a $2 trillion valuation.

After falling last year, the price of the Californian company has recovered this year, in which it accumulates a rise of around 47.49%. Apple’s recent increases respond to expectations that the Federal Reserve (Fed) will stop raising interest rates and the takeoff of artificial intelligence, two factors that have helped most of the technology sector.

This month, the manufacturer of the iPhone presented one of its new big bets, the “Apple Vision Pro” augmented reality glasses, with which it finally disembarks this promising area in which other Silicon Valley giants such as Meta have already invested heavily. The specialized channel CNBC points out that investors were optimistic regarding the shares of the technology giant and its portfolio of products and services despite the fact that the company warned in May that its income for the current quarter would fall by around 3%.

The Cupertino company debuted on the stock market on December 12, 1980 at a price of $22 per share and since then it has carried out four ‘splits’, so the price of the IPO adjusted for these divisions would be $0.39.