‘Safest Asset’ Apple, First to Surpass $3 Trillion Market Cap

[Image source=Reuters Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] Apple has joined the unprecedented $3 trillion market capitalization club. Analysts say this new 'milestone' was achieved due to stable performance despite the semiconductor supply chain crisis, expectations for new business ventures such as virtual reality (VR), and its evaluation as a safe asset.

On the 3rd (local time), Apple's stock price surpassed a market capitalization of $3 trillion (3,580.5 trillion KRW) during the first trading session of the year. Apple recorded an all-time high of $182.88 that day and closed the session at $181.90, up 2.44%. Although the closing market capitalization slightly missed the $3 trillion mark, the historic achievement of reaching $3 trillion for the first time is expected to be recorded as a historic event.

Apple's market capitalization entered $1 trillion in 2018 and rose to $2 trillion last year. Since then, it has shown a vertical rise to $3 trillion in 16 months. Apple briefly lost its market capitalization lead to Microsoft (MS) in October last year, but following the success of the iPhone 13, it has rallied continuously since November last year. The corporate value gap with MS has widened to $500 billion.

Despite the global semiconductor supply chain crisis, Apple has achieved stable management performance and is now regarded as both a growth stock and a safe asset.

Bloomberg reported, "Although some concerns have been raised due to semiconductor chip shortages and expectations of rising interest rates, investors are focusing on the global popularity of Apple products, the potential to maintain steady growth, and the company's strong cash reserves."

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