Apple stock bounces back toward $1 trillion market valuation

With shares up 0.3% in midday trading, Apple’s AAPL, -0.14% market capitalization is poised to cross the $950 billion mark for the first time since the stock cratered in the fall, assuming the current gains hold through the close. Apple shares need to close at or above $212.08 for the company to cross the $1 trillion market-cap threshold once again.

Analysts have become gradually more optimistic about Apple’s prospects in the months after shares tumbled on fears about the sustainability of Apple’s pricing model and its ability to grow device shipments. The company decided to do away with unit-sales metrics for the iPhone and issued a string of disappointing forecasts, but management has been trying to shift investor attention toward the opportunities offered by Apple’s faster-growing services business.

Apple shares have gained 28% so far this year, compared with a 12% rise for the Dow Jones Industrial Average DJIA, -0.70% of which Apple is a component.We Want to Hear from You Join the conversation

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