Apple's closing price hit a new high with a market capitalization of $2.94 trillion

CTOnews.com, June 23, Apple shares lost $1 trillion in market value last year due to the supply of iPhone and many other factors. However, with the adjustment of the supply chain and results exceeding Wall Street expectations, Apple shares rebounded strongly and broke the closing price record yesterday.

As of 4: 00 a. M. Beijing time on June 23, the company closed at $187.00. Apple opened today at $183.74, setting a 52-week high of $187.04.

Apple currently has a market capitalization of $2.941 trillion (currently about 21.12 trillion yuan) and is rapidly approaching $3 trillion.

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 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.