Apple Inc's shares on Monday hit their all-time high as the tech giant's market value had reached closer to $3 trillion. In just 16 months, the company managed to rise from $2 trillion to near $3 trillion market value. Apple's stocks on Monday had the closing price of $175.74 a share and to reach the record of $3 trillion in market value, the company needs to gain 4% on the closing price of Monday, Hindustan Times reported. The 4% gain will increase the per-share value to around $182.86, the report added.
Key Points:
1. Achieving the $3 trillion milestone will be another major accomplishment for Chief Executive Tim Cook who took over the company in 2011 after Steve Jobs resigned.
2. The company under Tim Cook observed expansion into new products and markets. Technologies such as 5G, augmented reality/virtual reality, and artificial intelligence can largely benefit apple and other large technology stocks that remain in favor with investors.
Advertisement
Also Read | Agritech startup Ninjacart gets $145 million fresh funding from Flipkart, Walmart
3. Microsoft Corp will be the only company in the $2 trillion club if Apple manages to hit the $3 trillion milestone and Alphabet, Amazon, and Tesla Inc will remain in the $1 trillion club.
Advertisement
