Apple is now the first public company to be valued at $3 trillion – The Associated Press
SAN FRANCISCO (AP) — Apple became the first publicly traded company to close a trading day with a $3 trillion market value, marking another milestone for a technology juggernaut that has reshaped society with a line-up of products that churn out eye-popping profits.
Apple shares closed up 2.3% at $193.97 Friday, bringing its market value to $3.04 trillion. Apple is one of a handful of technology companies, including Microsoft and chipmaker Nvidia, that helped drive the S&P 500 to a gain of nearly 16% in the first half of the year.
The 47-year-old company co-founded by Silicon Valley legend Steve Jobs had briefly eclipsed a $3 trillion market value on back-to-back days in January 2022, but couldn’t hold on by the time the market closed. Instead, Apple’s stock sunk into a prolonged descent that pushed its market value briefly below $2 trillion earlier this year amid a slowdown in growth and investor jitters about rising interest rates that affected the entire tech sector.
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