Apple’s market cap shut at about $3 trillion for the first time since August after its shares climbed 2% to $193.42 per share on Tuesday December 5.
The achievement is an indication of Apple’s toughness even as the organization reduces its complete share count through buybacks.
The company’s stock reached an all-time high on July 31 and continues to be the most valuable publicly traded company in the United States.
Despite the company’s challenges with slowing growth and issues in markets like China, investors view Apple as a stronghold with significant cash flow, globally renowned products, and robust shareholder return programs.
Apple reported total revenue of $383.29 billion in fiscal 2023, which began in October and was down about 3% from the previous year.
Apple also cautioned in November that it didn’t anticipate yearly income growth in its exceptionally significant December quarter, which is the main full quarter with iPhone 15 sales.
One year from now, Apple will release its Vision Pro virtual reality headset, its first major computing platform since introducing the Apple Watch in 2014.