APPLE

Company close to a $3 trillion market capitalization

It's a record in itself. But even more interestingly, this will place Apple in the top five economies in the world: only a few countries can boast a higher capitalization of all their companies combined. At the same time, just a year ago, the manufacturer passed the $2 trillion mark.

Apple shares rose 1.6% on the last day of trading to $174 with a market cap of $2.87 trillion. To break the $3 trillion mark, the company's assets will need to trade at $182.85, which will be the logical conclusion of the current market processes – investors continue to bet on the influence of the Apple brand, considering investing in its shares. as a relatively safe haven.

In 2020, Apple's shares were up 80%, and this year they're up about 30%. For comparison purposes, the S&P 500 index for the current year showed an increase of 25%. Other Trillionaire Club members including Microsoft, Amazon, Alphabet and Tesla? since the beginning of the year, it has also grown significantly from 10 to 70%. Susannah Streeter, Senior Investment and Markets Analyst at Hargreaves Lansdown, commented on the company's prospects: “Apple seems to be immune to the ebb and flow of economic forces because of its really strong brand. In addition, it has a very strong new product line. Apple is expected to achieve its goal despite disruptions in phone shipments and consumer availability"

The company's shares have already surpassed the average target price by $4, and most analysts recommend buying them. Remember that recently Apple briefly lost the title of most valuable company in the world, passing it to Microsoft, which was a consequence of statements by the head of the company Tim Cook (Tim Cook) about problems with suppliers and the fight for the purchase of semiconductor components for smartphones and laptops. Microsoft is now about $500 billion below a $3 trillion market cap.

AVnews