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Apple stock hits $3 trillion market value as new gadget releases loom

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To maintain a $3 trillion valuation on Friday, Apple’s stock needs to close above $190.74 per share.

Apple’s market value crossed the $3 trillion mark in early Friday trading as investors look ahead to the highly-scrutinized releases like the iPhone 15 and the Vision Pro mixed-reality headset.

Apple previously became the first company in history to hit the $3 trillion mark in intraday trading on Jan. 3, 2022. But the shares ended up closing below the threshold and never crossed it again as rate hikes from the Federal Reserve began to slam tech stocks. Apple shares have swelled more than 51% so far this year, leading a broader recovery among battered tech stocks as investors shake off concerns about the Fed and the economic outlook.

Stock growth has continued unabated even after Apple’s CFO Luca Maestri warned in May that the company expected its revenue to sink by 3% this quarter. The iPhone 15 is slated for release this fall ahead of the crucial holiday season.

 

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