Apple Market Value Crossed 3 Trillion On Friday

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Apple Market Value Crossed 3 Trillion On Friday

Apple's Market Value Crossed $3 Trillion On Friday

For the first time in history, the stock market value of Apple Inc crossed the $3 trillion mark at the end of the trading session. According to experts, there's a lot that's going well for Apple, such as a slowdown in inflation and expansion into new markets.

And if we look at Apple's stock price, it was last seen at $193.97 after a jump of 2.3%. Overall, the market cap of Apple Inc. jumped to $3.05 trillion, which is a record in itself. To give you some perspective, Apple Inc. stock has been posting gains for 4th day in a row, which reveals that bullish pressure is present in this tech stock.

All Tech Stocks Are Positive

All the other tech stocks from the USA are also positive, which tells us Apple isn't a singular case. Some of these stocks include Tesla, Nvidia, Apple, and others.

The recent bullish advance came after the report from the US commerce department, which showed inflation has slowed down in the country. This also reflects that Federal Reserve is making progress in its fight against inflation.

Just this year alone, Apple's stock has gained a 49% upside, which also pushed the US stock indices higher. According to exports, most of the upside is due to the optimism that the Fed's campaign of rate hikes is almost over.

In addition, the prospects of artificial intelligence and its use in technology companies are also a bullish factor for Apple.

If we look at Apple's quarterly report, it also reveals that the rate of profit and revenue decline is slower than expectations. Although it still paints a bad picture, it does reveal that the rate of decline is slowing down.

After all, Apple inc. is still regarded as a safe investment amid the uncertainty surrounding the US and the global economy.

In addition, Apple also launched a new augmented-reality headset with a high price tag. Considering the Apple's loyal customer base, this new product will also improve the company's sales and revenue this year.

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