{"id":29690,"date":"2023-06-30T12:37:08","date_gmt":"2023-06-30T16:37:08","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/apple-is-now-worth-3-trillion-how-its-stock-could-rise-another-30\/"},"modified":"2023-06-30T12:37:09","modified_gmt":"2023-06-30T16:37:09","slug":"apple-is-now-worth-3-trillion-how-its-stock-could-rise-another-30","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=29690","title":{"rendered":"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

\n Apple
\n is now worth $3 trillion as of the stock market open in New York on Friday, a milestone for the iPhone maker and wider technology sector.<\/p>\n

\n Apple
\n stock (ticker: AAPL) jumped 1.5% in early Friday trading, opening at $191.78, above the $190.74 level that marks a market capitalization of $3 trillion. Apple\u2019s market value is now greater than that of the bottom 202 companies in the
\n S&P 500
\n index combined. The company is also worth more than each of the following S&P 500 sectors individually: Consumer Staples, Energy, Utilities, Materials, and Real Estate.<\/p>\n

\n

While Apple briefly topped a $3 trillion valuation in intraday trading in early 2022, it has never opened above that level before, nor has it closed above it\u2014putting pressure on the stock to do so on Friday. But there is reason to believe the stock can keep rising.<\/p>\n

The tech giant has already had a remarkable rally to start the year, up about 47% in 2023 and beating the performances of the
\n Dow Jones Industrial Average,
\n \u00a0
\n S&P 500,<\/span>
\n and tech-heavy
\n Nasdaq
\n \u2014up 3.5%, 15.5%, and 31.5%, respectively.<\/p>\n

It is \u201ca historic day for the tech sector,\u201d Wedbush analyst Dan Ives wrote in a Friday note. \u201cThe Apple bears and skeptics continue to scratch their heads as many have called for Apple\u2019s \u2018broken growth story\u2019 this year in a tougher backdrop to which we firmly believe the exact opposite has happened.\u201d<\/p>\n

And the stock is still good for gains, according to Wall Street, with the shares garnering an average rating of Buy among almost 40 analysts surveyed by FactSet.\u00a0<\/p>\n

Analysts at Citi joined the chorus of bulls on Thursday, initiating coverage of Apple with a Buy rating and $240 target price, implying gains of 27% from Thursday\u2019s closing price of $189.59.<\/p>\n

\u201cApple is navigating the macro slowdown and inflationary pressure on consumer spending by consistently gaining share from Android phones, we see ~30% further upside potential from current levels,\u201d the analysts wrote in a note.\u00a0<\/p>\n

\u201cWe believe the Street is underestimating continued gross margin expansion,\u201d they added, noting that a shift in iPhone sales toward the premium segment, further share gains in China and India, continued self-design of chips, and higher margin services sales mix were all tailwinds.<\/p>\n

Write to Jack Denton at jack.denton@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Apple is now worth $3 trillion as of the stock market open in New York on Friday, a milestone for the iPhone maker and wider technology sector. Apple stock (ticker: AAPL) jumped 1.5% in early Friday trading, opening at $191.78, above the $190.74 level that marks a market capitalization of $3 trillion. Apple\u2019s market value […]<\/p>\n","protected":false},"author":1,"featured_media":29691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-29690","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nApple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Apple is now worth $3 trillion as of the stock market open in New York on Friday, a milestone for the iPhone maker and wider technology sector. Apple\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=29690\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Apple is now worth $3 trillion as of the stock market open in New York on Friday, a milestone for the iPhone maker and wider technology sector. Apple\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=29690\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-30T16:37:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-30T16:37:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1688143028_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=29690#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=29690\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%.\",\"datePublished\":\"2023-06-30T16:37:08+00:00\",\"dateModified\":\"2023-06-30T16:37:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=29690\"},\"wordCount\":385,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=29690#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=29690\",\"url\":\"https:\/\/ifintechworld.com\/?p=29690\",\"name\":\"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-30T16:37:08+00:00\",\"dateModified\":\"2023-06-30T16:37:09+00:00\",\"description\":\"Apple is now worth $3 trillion as of the stock market open in New York on Friday, a milestone for the iPhone maker and wider technology sector. Apple\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=29690#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=29690\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=29690#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%. | iFintechWorld","description":"Apple is now worth $3 trillion as of the stock market open in New York on Friday, a milestone for the iPhone maker and wider technology sector. Apple","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=29690","og_locale":"en_US","og_type":"article","og_title":"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%. | iFintechWorld","og_description":"Apple is now worth $3 trillion as of the stock market open in New York on Friday, a milestone for the iPhone maker and wider technology sector. Apple","og_url":"https:\/\/ifintechworld.com\/?p=29690","og_site_name":"iFintechWorld","article_published_time":"2023-06-30T16:37:08+00:00","article_modified_time":"2023-06-30T16:37:09+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1688143028_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=29690#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=29690"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%.","datePublished":"2023-06-30T16:37:08+00:00","dateModified":"2023-06-30T16:37:09+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=29690"},"wordCount":385,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=29690#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=29690","url":"https:\/\/ifintechworld.com\/?p=29690","name":"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-30T16:37:08+00:00","dateModified":"2023-06-30T16:37:09+00:00","description":"Apple is now worth $3 trillion as of the stock market open in New York on Friday, a milestone for the iPhone maker and wider technology sector. Apple","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=29690#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=29690"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=29690#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Apple Is Now Worth $3 Trillion. How Its Stock Could Rise Another 30%."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/29690","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29690"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/29690\/revisions"}],"predecessor-version":[{"id":29692,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/29690\/revisions\/29692"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/29691"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29690"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29690"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29690"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}