The valuation of Apple -- which is still the most valuable company in the world -- is close to touching USD 3 trillion .
At the close of the market last Monday, Apple's shares fell 2% to USD 175.74 per share, after previously approaching USD 182.86 per share - the value of shares needed to reach a valuation of USD 3 trillion.
Apple's stock value had previously increased 11%, namely in the previous week, which makes the annual increase in share value still exceeds 30%. This shows investor confidence in loyal Apple consumers who continue to buy their products such as iPhone, MacBook, and also various services sold by Apple.
Apple took 16 months to increase its valuation from USD 2 trillion to almost USD 3 trillion. This increase has also been followed by other companies such as Alphabet -- Google's parent -- as well as Amazon, which have benefited from the pandemic, where more and more people are becoming increasingly reliant on technology.
In comparison, increasing Apple's valuation from USD 1 trillion to USD 2 trillion took 2 years, which is longer than the increase from USD 2 trillion to USD 3 trillion.
"(Apple) is now one of the most valuable companies in the market, which demonstrates the dominance of US technology in the world and the level of confidence investors have that this (dominance) will remain in Apple's hands," said Brian Frank, portfolio manager at Frank Capital, which sold its stake in Apple in 2019, when Apple's valuation skyrocketed.
Apple investors also seem to still be hoping for a new source of revenue for Apple from Apple Cars, as well as growth in services divisions such as apps and TV, which currently account for under 65% of iPhone sales revenue, said Daniel Morgan, senior portfolio manager. at Synovus Trust Company.
If Apple's valuation reaches USD 3 trillion, this will certainly be the umpteenth achievement for Apple CEO Tim Cook, who took over from Steve Jobs in 2011, and is behind many of Apple's expansions, both in terms of products and markets. .
Apple's stock value has increased more than 1,400% since Cook became CEO of Apple. When Apple's valuation reaches USD 3 trillion, Microsoft will be the only company with a valuation of USD 2 trillion, while Alphabet, Amazon, and Tesla, have only reached USD 1 trillion.
