Malcolm Owen
After a month of gains, and one day after Apple's September event, Wall Street has responded by raising the share price for the company to a level that gives it a market capitalization valuation that exceeds 1 trillion dollars once again.
On Wednesday, Wall Street responded to the event and positive news surrounding pricing by analysts with a flurry of trading, starting from an opening price of $218.07 and continuing gains on the day. At about noon eastern time, AAPL shot past $221.16, the share price it needed to beat to reach a market capitalization of $1 trillion dollars based on its basic share count, making the iPhone maker a trillion-dollar company once more.
This is not the first time Apple has reached the heady trillion-dollar heights. In August 2018, it became the first US company in history to reach the milestone, then after reaching a high of $232.07 in October, dropped down considerably in January following a warning Apple would miss its December-quarter guidance by billions of dollars.
This is also not the first time in 2019 that Apple has hit a trillion dollars. In May, a share peak allowed Apple to hit the barrier once more, again following a strong quarterly earnings report.
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25 Comments
No doubt this article will soon be “corrected” by the financial “experts” who live here. BTW, Apple’s own Stocks app shows the current market cap to be $983B even with the stock being up $5.74 right now. So where’d AI get this $1T figure from?
This article suggests that other companies have reached the trillion dollar value, and this raises the obvious question "Is Apple now the highest valued company?" But the article doesn't say.