Apple Stock Hits All-Time High... Market Cap Nears $3 Trillion

The stock price of Apple, the world's largest company by market capitalization, has reached an all-time high for the first time in over a year, bringing it close to surpassing a $3 trillion market cap.

On the 12th (local time), Apple's stock closed at $183.79, up 1.6% from the previous trading day on the New York Stock Exchange.

After unveiling the mixed reality (MR) headset 'Vision Pro' last week, the stock price briefly hit an intraday high of $185, but this is the first time since January last year ($182.01) that it has recorded a closing high.

As a result, Apple's stock price has surged 41% so far this year, surpassing the 35% increase of the Nasdaq 100 index, which is composed of major U.S. technology stocks.

Apple's market capitalization also stands at $2.89 trillion, just shy of the $3 trillion milestone. To break the $3 trillion market cap, Apple's stock price needs to rise to $190.734.

Bloomberg analyzed that Apple's stock price rose as it was perceived as a safe haven among investors amid the banking crisis earlier this year.

Wayne Kaufman, Senior Market Researcher at Phoenix Financial Services, stated, "Apple has a roadmap that people feel comfortable with and incredible cash flow," adding, "Nothing can outperform this amazing business model." He further explained, "People are returning to the market following the bear market," and "Investors are confident that Apple is a stock that can make money in the long term, so it is one of the stocks they can comfortably own regardless of whether the price goes up or down."

However, Swiss bank UBS warned that due to expected weakening demand for the iPhone, caution should be exercised when buying Apple stock.

This content was produced with the assistance of AI translation services.