AssetID: 52873551
Headline: UNCAPTIONED: Apple Is First Company to Top $3 Trillion Market Cap
Caption: Apple Is First Company to Top $3 Trillion Market Cap. Shares rose 1% to surpass $190.73 to reach the milestone on June 30, CNBC reports. Despite warnings in May that Apple's Q2 revenue will likely fall about 3%, investors remain bullish. "The Apple bears and skeptics continue to scratch their heads as many have called for Apple's 'broken growth story' this year in a tougher backdrop to which we firmly believe, the exact opposite has happened with Cupertino heading into a massive renaissance of growth over the next 12 to 18 months.", In a year where the tech industry has seen much turbulence, companies are seeking to "do more with less". Investors believe Apple has the means to thrive in such an environment. "In our opinion the Street has severely underestimated the massive installed base upgrade opportunity around iPhone 14 and now a mini super cycle iPhone 15 ahead with roughly 25% of Apple's golden customer base not upgrading their iPhones in over 4 years.", Dan Ives, Wedbush analyst, via June 30 note. NBC News reports that Apple shares have risen nearly 47% over the past year. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Apple,first company,trillions,dollars,market cap,technology,firm,giant,iphone,ipad,computer,investors,bullish,stockmarket,product,value
PersonInImage: