Apple’s market value breaches US$3 trillion mark again

Apple's market value breaches US$3 trillion mark again
An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, Jul 21, 2015. (Photo: Reuters/Mike Segar)

Apple’s market capitalisation on Friday (Jun 30) breached the US$3 trillion mark again, as investors bet on the iPhone maker’s ability to grow its revenue even as it explores new markets such as virtual reality.

Shares of Apple, which is also the world’s most valuable listed company, were up 0.9 per cent at US$191.4 in morning trading.

Apple’s market value briefly peaked above US$3 trillion in intra-day trading on Jan 3, 2022, before closing the session just below that mark.

The latest gains in Apple shares come as technology stocks rebound on bets that the Federal Reserve may be slowing its pace of interest rate hikes as well as on the buzz around artificial intelligence.

Source: Reuters/zl