San Francisco –
Apple approaches the first publicly traded company to close with a $3 trillion market cap, marking another milestone for a tech giant that has reshaped society with a spectacularly profitable product line-up.
As of 2 p.m. ET Friday, Apple shares were up about 2%, with an intraday market value of $3.04 trillion. Apple is one of a handful of tech companies, including Microsoft and semiconductor maker Nvidia, that helped the S&P 500 index rise more than 15% in the first half of this year.
The 47-year-old company, co-founded by Silicon Valley legend Steve Jobs, briefly surpassed US$3 trillion in market capitalization on consecutive days in January 2022, but failed to hold up before the market closed. rice field.
Microsoft is the second most valuable public company at US$2.53 trillion. Oil giant Saudi Aramco has a market capitalization of $2.08 trillion.
While the significance of reaching US$3 trillion in market value is largely symbolic, the sheer scale is still breathtaking.
For example, consider that $3 trillion could buy about 9 million homes in the United States, based on Zillow’s average sales prices over the past year.