Apple Hits $3 Trillion Market Value—And Could Soar Another $800 Billion

Apple Hits $3 Trillion Market Value—And Could Soar Another $800 Billion

Share to Linkedin Apple's market capitalization soared past $3 trillion Friday, a historic milestone as the world's largest company continues to grow larger thanks to resilient profits and product sales. Apple is by far the most valuable company in the world. Shares of the iPhone maker jumped more than 1% to a fresh all-time high of $192 in morning trading and are now up nearly 55% this year. Now valued at $3. 02 trillion, Apple remains the only $3 trillion company in history, having briefly crossed the threshold in January 2022. Apple is nearly $500 billion more valuable than the next-largest company, Microsoft ($2. 5 trillion market cap), while Saudi Aramco ($2. 1 trillion), Alphabet ($1. 5 trillion), Amazon ($1. 3 trillion) and Nvidia ($1 trillion) round out the exclusive trillion-dollar club. Even after the meteoric rise, Apple can gain another 25% over the next 12 months, Citi analyst Atif Malik wrote in a Friday note, setting a $240 price target for the stock thanks to underappreciated room for growth in profit margins. Apple would be worth $3. 8 trillion should it meet Citi's target. Apple is worth nearly as much as Tesla, Meta, Berkshire Hathaway, UnitedHealth and Visa—the sixth