The post Apple again approaching $3 trillion market value appeared first on MacDailyNews. Apple on Monday, January 3, 2022 became the first company in world history to hit the $3 trillion market value milestone. After surging 35% this year, the company is again approaching a market value of $3 trillion.

Ryan Vlastelica for Bloomberg News:

The stock has soared 35% this year, adding nearly $690 billion in market value, as investors have flocked to the iPhone maker’s steady revenue and massive cash flows. The advance has put Apple within striking distance of its January 2022 record.

“In my career, I never envisioned a company of this size, but then I never envisioned a company capable of generating more than $100 billion in free cash flow in a year,” said Patrick Burton, a portfolio manager of the MainStay Winslow Large Cap Growth Fund, which owns nearly 4.5 million shares of the Cupertino, California-based firm, as of the latest data. “When you look at the underlying metrics, it’s understandable why Apple has done so well.”

Apple and other technology behemoths have been market standouts this year as investors have gravitated to companies with the biggest scale while staring down risks from a potential recession, bank failures and now a US debt-ceiling standoff. It’s a favorite stock for institutional investors, hedge funds, retail investors, and Warren Buffett.

MacDailyNews Take: Apple $3 trillion market value is merely a waypoint to $4 trillion and beyond.

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The post Apple shares surge to nine-month high on March quarter results appeared first on MacDailyNews. Apple’s stock surged nearly almost 5% on Friday, hitting a nine-month high and on track for its biggest one-day gain since November after the world’s most valuable company posted quarterly results that cheered investors worried about a looming recession.

Noel Randewich for Reuters:

The world’s most valuable company reported lower revenue and profits for the quarter ending April 1, but still beat analysts’ expectations. With Apple’s results helped by emerging markets like India, executives said gross profit margins for the current quarter would be better than forecast.

Apple’s stock market value climbed by over $100 billion to about $2.7 trillion, extending its lead over Microsoft, the world’s second most valuable company, at $2.3 trillion.
Last trading at $173.48, the Cupertino, California company’s shares were set to log their biggest one-day gain since Nov. 30. They were just short of a peak of over $176 last August.

MacDailyNews Takee: Apple’s all-time high closing price was $180.68 set on January 3, 2022.

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The post Apple shares surge to nine-month high on March quarter results appeared first on MacDailyNews.