On June 28, Apple’s stock value hit a new high and brought the company closer to a market capitalization of $3 trillion.
According to Neowin, Apple surpassed the $2 trillion mark in August 2020 and $1 trillion in 2018. At the moment, the company’s market capitalization stands at $2,980 billion. This comes from the company’s 15.7 billion shares trading at $189.25 per share after the close of trading on June 28
For Apple’s market capitalization to reach $ 3 trillion, each share of the “Apple house” needs to reach about $ 190.52. The company’s stock price is up $4 from this week’s low, so making another $1 shouldn’t be too difficult.
Apple’s Relative Strength Index (RSI) indicator is currently above the moving averages, meaning the company’s stock price could continue to move higher and soon reach a $3 trillion market cap. However, the company’s RSI is at 71.42 – any value above 70 indicates an asset is overbought and is about to have a pullback, so the stock’s value is as well. can go in the opposite direction.
If Apple surpasses the $3 trillion market cap, it will be the first company to do so in history. Microsoft is the second largest company by market capitalization at $2.5 trillion, while the third is Saudi Aramco with a market capitalization of $2,080 billion.
Only these three companies have reached the $2 trillion milestone. Other companies including Alphabet, Amazon, Nvidia, Tesla, and Meta are behind but are still far from this milestone. Alphabet has a market cap of $1.530 billion, Meta is $731.12 billion.