The Strategist

Bloomberg : Apple may become the first company worth over $3 trillion



05/23/2023 - 06:43



Apple may surpass Amazon as the first business in history to be valued at over $3 trillion, reports Bloomberg.



Ruyadeyy44
Ruyadeyy44
American Apple is very close to reaching the $3 trillion valuation threshold. Bloomberg’s estimates show that Apple’s shares have surged by 35% and the market value by $690 billion since the start of the year. Apple's market value is currently close to $2.76 trillion.

Apple's market capitalization has surpassed $3 trillion previously. On January 3, 2022, the company became the first in the world to reach that mark in trade. The business's value at the time exceeded that of the entire British economy or the entire German stock market. However, the corporation was unable to close the day's trading over the $3 trillion mark, and as a result, its shares started to fall. Apple's market value dropped below $2 trillion a year after the milestone. According to Bloomberg, the company's shares lost 27% of its value overall in 2022.

According to Bloomberg, investors are drawn to Apple because of its consistent revenue and substantial cash flow. One of the most well-known investors in the world, billionaire Warren Buffett, favor the company's securities. Due to worries about a potential recession, the failure of U.S. institutions, and the size of the U.S. government debt ceiling, investors in 2022 tend to favor the papers of the largest firms. The stocks are trading at a premium to the market, and issues still surround Apple's valuation, which is currently 28 times the company's forecasted revenues, the newspaper notes.

source: bloomberg.com

 




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