2023-07-03 07:15:00
Apple Inc. (AAPL.US) is set to become the first company to reach a market cap of $3 trillion, as its stock rose more than 1.8% on Friday, hitting a market cap of $3.03 trillion. The YTD yield on Apple shares hit 50%, adding more than $940 billion to the company’s size. This step indicates the dominance of big tech companies.
Wall Street remains bullish on Apple shares as Citi began covering Apple with a Buy recommendation, pointing to another 30% upside potential, which would take Apple’s valuation close to $4 trillion . However, the company’s stock has exceeded analysts’ average price target, suggesting limited anticipated gains at current levels. Despite the impressive performance, concerns persist over Apple’s valuation. It trades at 30 times its estimated earnings for the next 12 months, representing a premium to its long-term average multiple as well as the Nasdaq 100 index.
Apple’s stock price (AAPL.US) showed strength and positive momentum, with a current price of $192, marking a 1.76% increase for the day. The stock moved above its previous all-time high of $182, indicating potential for upward movement and entry into a new price zone. Supported by a blue line on the chart, the stock remains in a solid uptrend, suggesting continued positive sentiment and demand among investors.
“This material is marketing communication within the meaning of Art. 24(3) of Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/ 92/EC and Directive 2011/61/EU (MiFID II) Marketing communication is not an investment recommendation or information recommending or suggesting an investment strategy within the meaning of Regulation (EU) No. 596/ 2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (Market Abuse Regulation) and repealing Directive 2003/6 / EC of the European Parliament and of the Council and Directives 2003/124 / EC, 2003/125 / EC and 2004/72 / EC of the Commission and Commission Delegated Regulation (EU) 2016/958 of 9 March 2016 supplementing Regulation (EU) No 596/2014 of the European Parliament and of the Council with regard to standards regulatory techniques relating to the technical modalities for the objective presentation of investment recommendations or other information recommending or suggesting an investment strategy and for the disclosure of particular interests or indications of conflicts of interest or any other advice, including in the field of investment advice, within the meaning of the law of 29 July 2005 on trading in financial instruments. (i.e. Journal of Laws 2019, item 875, as amended). All the information, analyzes and training provided are provided for information purposes only and should not be interpreted as advice, a recommendation, an investment solicitation or an invitation to buy or sell financial products. XTB cannot be held responsible for the use made of it and the resulting consequences, the end investor remaining the sole decision maker as to the position taken on his XTB trading account. Any use of the information mentioned, and in this respect any decision taken in relation to a possible purchase or sale of CFDs, is the sole responsibility of the end investor. It is strictly forbidden to reproduce or distribute all or part of this information for commercial or private purposes. Past performance is not necessarily indicative of future results, and anyone acting upon this information does so entirely at their own risk. CFDs are complex instruments and come with a high risk of losing capital rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You need to make sure you understand how CFDs work and can afford to take the likely risk of losing your money. With the Limited Risk Account, the risk of loss is limited to the capital invested.
1688370501
#Apple #close #trillion #market #capitalization
