Guaranteed return on investment is a big incentive for investors, and unfortunately, there are only a few businesses that have stood the test of time on returns. That means everyone wants to own a piece of those companies even if their stock was 50 times over valued.
AAPL shares have crossed another major milestone with the market cap hitting over $1.5 trillion during trading today. The growth makes it the first US company to reach the achievement.
After more recent gains, Apple’s stock price was up another 2% today to around $352, putting its total value of shares at $1.52 trillion. That makes it the first US company to hit that number and comes after a several month rally sinch March of this year. AAPL shares had dipped to a low of $229 back in March during the spread of the pandemic before bouncing back.
Back in January, we saw a couple of analysts set a $375-$400 AAPL target price which the company is closing in on. They cited upside to Apple’s first 5G iPhones landing this year, more opportunity for Apple Watch sales, and growth from 0% interest deals for consumers.