On Monday, January 3, 2022, Apple became the first company in world history to hit the $3 trillion market valuation milestone, but it quickly fell back from that mark. Now, after a solid run in 2023, AAPL is again approaching the $3 trillion mark. Angela Palumbo for Barron’s: Apple is on track to become the first company with a $3 trillion valuation, but the journey there won’t be easy. MacDailyNews Take: As stated above, Apple already became the first company with a $3 trillion valuation on January 3, 2022. Apple stock has surged 42% this year and the company has a market capitalization of $2.89 trillion. The shares would have to close above $190.73 each to hit the record $3…

Apple stock hit a new all-time high in Monday morning trading and is in position to close at a record high early Monday as investors awaited the expected launch of a mixed-reality headset. Some analysts see the stock climbing even higher. Callum Keown for Barron’s: Anticipation ahead of Apple’s Worldwide Developers Conference, scheduled to begin Monday and run through Friday, is likely driving those gains. The company is expected to launch a virtual-reality and augmented-reality headset… Investors will also be keen to hear anything the company has to say about AI, or its strategy around the technology, which has taken the market by storm in 2023. Evercore ISI analysts see the stock climbing even higher, raising their target for the…

Apple stock hit a new all-time high in Monday morning trading and is in position to close at a record high early Monday as investors awaited the expected launch of a mixed-reality headset. Some analysts see the stock climbing even higher. Callum Keown for Barron’s: Anticipation ahead of Apple’s Worldwide Developers Conference, scheduled to begin Monday and run through Friday, is likely driving those gains. The company is expected to launch a virtual-reality and augmented-reality headset… Investors will also be keen to hear anything the company has to say about AI, or its strategy around the technology, which has taken the market by storm in 2023. Evercore ISI analysts see the stock climbing even higher, raising their target for the…

Apple stock has jumped 38% so far year on solid earnings, after reporting stronger-than-expected fiscal Q2 iPhone sales in early May, and is now nearing a new all-time high. Angela Palumbo for Barron’s: The stock is up 1% in Thursday trading to $179.05, which would be its highest close since January 2022, and within striking distance of the all-time high of $182.01, also set that month. Apple’s annual Worldwide Developers Conference, or WWDC, begins on June 5. The tech giant typically announces its upcoming products at the gatherings, and investors will be keen to hear launches and business updates. Wedbush analyst Dan Ives told Barron’s that he thinks investors mostly want to hear about the company’s future in artificial intelligence,…

Chief executive officers of some of the leading companies in artificial intelligence, including OpenAI, Alphabet Inc.’s DeepMind, and Anthropic, have joined a growing chorus of leaders warning about the potential risk of extinction the fast-developing technology. Jackie Davalos for Bloomberg News: A brief statement released Tuesday by the the nonprofit Center for AI Safety said, “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks, such as pandemics and nuclear war.” The statement was signed by more than 350 executives and researchers including Sam Altman, CEO of OpenAI, the company behind ChatGPT, Demis Hassabis, who heads DeepMind and Dario Amodei, CEO of Anthropic, a startup co-founded by OpenAI veterans. In March, more than 1,100…

Wall Street analysts are impressed with the resilience of Apple’s iPhone sales in a tough and worsening economy. iPhone 14 Pro Max Emily Bary for MarketWatch: Turns out thousand-dollar smartphones are still proving to be essential purchases in a tough economy. That’s the view of Evercore ISI analyst Amit Daryanani, who said that Apple Inc.’s latest quarterly results “validate not just the diversity of Apple’s revenue stream,” but also showcase “the ‘consumer staple’ nature of iPhones,” whereas investors may see the iPhones more as “a discretionary technology product.” Wall Street had been nervous about the state of consumer-electronics spending headed into Apple’s Thursday afternoon earnings report, especially given cautious signals about the smartphone landscape from chipmaker Qualcomm Inc. (QCOM) as…