The market capitalization will return to $3 trillion this year, and Apple shares have hit a new closing high.

CTOnews.com, June 13, AAPL (AAPL) shares closed at $183.79 a week after the WWDC 2023 developer conference. Apple shares also hit an all-time high in intraday trading before and after Apple launched the Vision Pro last week.

Apple's last closing price record was set in January 2022, and although it broke through the $3 trillion mark in intraday trading, Apple's market capitalization fell back to $182.01 a share at the end of the day.

Apple's current market capitalization of $2.89 trillion is affected by share buybacks. If Apple's market capitalization is to return above $3 trillion today, the share price needs to rise to a higher level.

Apple lost its market capitalization at the beginning of the year due to high inflation, high interest rates and other adverse factors, but then the Fed slowed the pace of interest rate hikes, and the explosion of artificial intelligence technology boosted the performance of technology stocks and boosted the enthusiasm to invest in Apple.

A month ago, Apple reported results for the fiscal second quarter ended April 1, which showed revenue and profit beat average analyst expectations. Some media analysts believe that as long as the business remains strong, it is entirely reasonable to return to 3 trillion yuan.