Technology
Apple's market value breaches $3 trillion mark again
Apple Inc's (AAPL.O) market capitalization on Friday breached the $3 trillion mark for the first time since January last year, as investors bet on the iPhone maker's ability to grow revenue even as it explores new markets such as virtual reality.
Shares of Apple, which is also the world's most valuable- listed company, were up 1.3% at $191.99 in morning trading. They have jumped nearly 46% this year and, at the current price, the company's market value stands at $3.02 trillion.
Apple's market value briefly peaked above $3 trillion in intra-day trading on Jan. 3, 2022, before closing the session just below that mark.
Also read YouTube is testing an online-games offering
The gains in Apple shares come as Technology stocks rebound on bets that the Federal Reserve may be slowing its pace of interest rate hikes as well as on the buzz around artificial intelligence.
Apple's less-than-expected fall in sales in its most recent quarterly report has highlighted the tech giant's resiliency in an uncertain economy and reinforced its reputation among investors.
Currently, four other U.S. companies have a valuation of more than $1 trillion - Alphabet Inc (GOOGL.O), Microsoft Corp (MSFT.O), Amazon.com Inc (AMZN.O) and Nvidia Corp (NVDA.O).
-
Technology5h ago
There Is a Solution to AI’s Existential Risk Problem
-
Technology11h ago
Public health surveillance, from social media to sewage, spots disease outbreaks early to stop them fast
-
Technology13h ago
TikTok, PTA host youth safety summit in Pakistan | The Express Tribune
-
Technology16h ago
Why a Technocracy Fails Young People
-
Technology1d ago
Transplanting insulin-making cells to treat Type 1 diabetes is challenging − but stem cells offer a potential improvement
-
Technology1d ago
Japan's $26 billion deep sea discovery sparks serious environmental concerns | The Express Tribune
-
Technology1d ago
Should I worry about mold growing in my home?
-
Technology1d ago
Blurry, morphing and surreal – a new AI aesthetic is emerging in film