Sunday, July 21, 2024
-Advertisement-
Digital Senate
Digital Senate
Digital Senate
Digital Senate
HomeNewsEnterprise ITGlobal tech major Apple’s market cap swells past $3 trillion, valuation up 5,800 since launch in 2007

Global tech major Apple’s market cap swells past $3 trillion, valuation up 5,800 since launch in 2007

Follow Tech Observer on Google News

Experts believe that this is the latest milestone in Silicon Valley and the  heavyweight’s spectacular stock surge since introducing the iPhone in 2007

Google News

Ditching all estimates, global technology major has become the first publicly-traded company with a value of over $3 trillion. On the first day of trading in 2022, the company's shares rose to $182.88 in mid-day trading, a new record.

Experts believe that this is the latest milestone in Silicon Valley and the heavyweight's spectacular stock surge since introducing the iPhone in 2007.

According to market reports, Apple's shares have climbed around 5,800% since co-founder and former Chief Executive Steve Jobs unveiled the first iPhone in January 2007, far outpacing the S&P 500's gain of about 230% during the same period.

Microsoft and Amazon have each briefly eclipsed Apple as the most valuable publicly listed US company in the past three years, although Apple has recently pulled ahead. Microsoft's stock market value currently stands at about $2.5 trillion, while Amazon's is at around $1.7 trillion, having fallen behind Alphabet, now at $1.9 trillion.

Several Big Tech firms saw their shares outperform Apple's 2021 gain of 34%. Microsoft and Tesla both rallied about 50% in 2021, while Alphabet jumped 65% and Nvidia soared 125%, putting the chipmaker's stock market value at over $700 billion.

Apple now accounts for about 7% of the S&P 500, up from as little as 5% in June and back in line with where it started in 2021. Following its 2.9% gain on Monday, Apple is trading at about 30 times its expected 12-month earnings, down from a multiple of 32 in early 2021 but still at highs not seen since 2008, according to Refinitiv data.

As Apple's stock has climbed in the past several months, so have analysts' price targets. JP Morgan and BofA Global Research in December each raised their price targets for Apple's stock to a street high of $210, according to Refinitiv. That price target would put Apple's market capitalization at about $3.45 trillion.

Get the day's headlines from Tech Observer straight in your inbox

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
Tech Observer Desk
Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
- Advertisement -
Bitcoin 2024
Bitcoin 2024
Bitcoin 2024
Bitcoin 2024
- Advertisement -Digital Senate
- Advertisement -Education Sabha
- Advertisement -Bitcoin 2024
- Advertisement -ESDS SAP Hana

Subscribe to our Newsletter

83000+ Industry Leaders read it everyday

By subscribing you agree to our Privacy Policy, T&C and consent to receive newsletters and other important communications.
- Advertisement -

Amazon Prime Day 2024 brings major discounts and new launches

Amazon Prime Day 2024 offers discounts across categories including Smartphones, TVs, Appliances, Fashion & Beauty essentials, Groceries, Amazon Devices, Home & Kitchen, Furniture, and Everyday Essentials.

RELATED ARTICLES