Posted 12/24/2023, 11:42:00 AM
Apple Hits Historic $3 Trillion Market Cap on Continued Innovation and Investor Confidence
- Apple recently hit a record high market cap of $3.1 trillion in July 2023, making it the world's most valuable public company
- Market cap is calculated by multiplying a company's share price by its number of outstanding shares
- Apple has high valuation because it has proven long-term innovation and earnings growth sought by investors
- Apple's market cap has grown enormously over the past 20 years, from $7.88 billion in 2003 to over $3 trillion now
- Apple went public in 1980 at $22 per share; its stock ticker symbol is AAPL