Apple shares rise to record highs and capitalisation close to $3 trillion

While NVIDIA is struggling to break even at $1 trillion, Apple is already storming the psychological $3 trillion mark, with the Cupertino giant's stock taking a new record high.

Here's What We Know

Apple held its WWDC 2023 conference last week. With a slight delay, the stock market reacted to the products shown at the event, including Vision Pro glasses worth $3500.

The day before, Apple's share price rose by 1.6% to $183.79 apiece. This had a positive effect on the market, as the share of securities of the Cupertino-based company in the S&P 500 index is 7.5%. As a result, Apple's capitalisation reached $2.89 trillion.

Investors now view Apple stock as a safe investment, as the California-based company has been able to grow revenues in various segments despite the crisis in the industry. Since the start of 2022, Apple has gained 46 per cent in value, while the Nasdaq Index has gained 35 per cent.

Source: Bloomberg