Apple has again become the only company to touch the $3 Trillion market cap on the Wall Street. This morning, the company’s shares opened at $191.68 which is a 1% increase from yesterday, making it the world’s most-valued company. The share price of AAPL has currently reached $193.03.
The Cupertino-based company last touched this milestone about 18 months ago on January 2022 and then lost its position. Apple’s market cap has plummeted by more than $1 Trillion in the past year due to logistical constraints and poor sales numbers of its products. Apple shares have now increased by 53% from the beginning of this year.
Dan Ives, a senior equity research analyst at Wedbush Securities said, “The Apple bears and skeptics continue to scratch their heads as many have called for Apple’s ‘broken growth story’ this year in a tougher backdrop to which we firmly believe the exact opposite has happened with Cupertino heading into a massive renaissance of growth over the next 12 to 18 months.” He added, “In our opinion the Street has severely underestimated the massive installed base upgrade opportunity around iPhone 14 and now a mini super cycle iPhone 15 ahead with roughly 25% of Apple’s golden customer base not upgrading their iPhones in over 4 years,”.
Earlier this month at WWDC (World Wide Developer’s Conference) 2023, Apple unveiled Apple Vision Pro, the company’s first Augmented Reality/Virtual Reality product for consumers priced at $3499. The company will ship it next year only for customers based in the United States. Apple also announced major upgrades to iOS 17, iPadOS 17, macOS Sonoma, and watchOS 10. The tech giant also released the new 15-inch MacBook Air with M2, Mac Studio with M2 Max and M2 Ultra, and Mac Pro with M2 Ultra alongside the Apple Vision Pro.
The company is rumored to launch four iPhones this year for the first time with a USB-C port. The non-pro models might get the Dynamic Island (pill-shaped notch) as introduced in iPhone 14 Pro.