Apple is about to reach yet another significant milestone. The iPhone maker is on the verge of surpassing a market value of more than $3 trillion, making it the first publicly traded corporation to do it.
Apple (AAPL) stock was up nearly 1% in premarket trade Monday, reaching roughly $181.75. For Apple to exceed the $3 trillion thresholds, the stock must reach $182.85.
- 1 An examination of India’s GDP reveals the following:
- 2 Final Words:
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An examination of India’s GDP reveals the following:
India’s GDP is less than half of the company’s market capitalization. India’s GDP in 2020 was 2.622 trillion dollars, according to the World Bank. This figure was formerly projected to be 2.946 in 2021, however, various organisations have recently revised their estimates of India’s growth rate. India’s GDP is anticipated to stay below $ 2.9 trillion this year.
In August 2018, Apple’s market worth surpassed $1 trillion, and in August 2020, it surpassed $2 trillion.
The company’s stock was trading at $174, up 1.6 percent. To meet the target, they must trade at $182.85, capping a robust gain fueled by investors betting on the company’s name and perceiving it as a relatively safe haven.
The stock has increased by around 30% this year, following an 80% increase in 2020. In comparison, the S&P 500 has increased by 25% over the same time span.
Microsoft, Amazon, Alphabet, and Tesla, who are all in the trillion-dollar club, have all risen between 10% and 70%.
“Because of its extremely strong brand, Apple appears to be more impervious to the ebb and flow of economic pressures. Its new product pipeline is also rather solid “Hargreaves Lansdown’s senior investment and markets analyst, Susannah Streeter, stated.
“Even though there have been some flaws in obtaining the handsets and ensuring that they are available to the public, there is an expectation that the company will still come after you.”
Apple’s market value surpassed $1 trillion in 2018 and took two years to double.
The stock has already surpassed Wall Street’s median price objective by $4, with the stock being rated “buy” or higher by the majority of analysts that cover it.
Following CEO Tim Cook’s statements on supply chain issues and the challenge to source semiconductors and components to produce smartphones and laptops, Apple momentarily lost its distinction as the most valuable business to Microsoft Corp earlier this year.
This year alone, Apple’s stock has risen by more than 35%. Apple has reaped the benefits of strong demand for its new iPhone 13 and other older models, as well as subscription services like Apple Music, Apple TV+, iCloud, and its well-known App Store.
Microsoft is around $500 billion away of having a market valuation of $3 trillion.
However, Apple may soon be joined by another corporation in the $3 trillion club. Microsoft (MSFT) is now valued at $2.6 trillion, while Alphabet (GOOGL), the parent company of Google, is valued at roughly $2 trillion. Amazon (AMZN), with a market capitalization of $1.7 trillion, and Elon Musk’s Tesla (TSLA), with a market capitalization of $1 trillion, are both still massive, but they’re further behind.