Apple Inc Surpasses $3 Trillion Market Cap As Share Price Continues To Soar

Apple Inc's share price continued its upward trajectory for the fourth consecutive day, reaching a significant milestone as it surpassed the $3 trillion market capitalization mark.

Apple's intraday market value reached USD 3.04 trillion as of Friday at 2 PM ET, with its shares up over 2%.

A small group of technology firms, including Microsoft and the chipmaker Nvidia, have contributed to the S&P 500's gain of more than 15% in the first half of the year. Apple is one of these firms.

The 47-year-old business, which was co-founded by Steve Jobs, a legendary figure in Silicon Valley, momentarily exceeded a USD 3 trillion market value on back-to-back days in January 2022, but it was unable to maintain it by the time trading ended. With a market value of USD 2.53 trillion, Microsoft ranks second among public companies.

Saudi Aramco, a major oil company, is worth $2.08 trillion on the market. Despite being mostly symbolic, having a market value of USD 3 trillion is nonetheless impressive due to its size.

Think about how USD 3 trillion, based on Zillow's estimation of the average sales price over the previous year, could purchase over 9 million homes in the US.(AP)