Shares of Apple Inc. briefly crossed the threshold required for the company to achieve a $3 trillion market value Monday, though the stock turned lower.
Apple shares
AAPL,
reached an intraday high of $182.88 in Monday trading as of 2 p.m. ET, but fell lower than the mark needed for $3 trillion shortly after. Shares need to close at or higher than $182.86 for the company to become the first to finish a trading session with a valuation of $3 trillion or more.
Apple was the first U.S. company to hit the $1 trillion mark, in 2018, and has since been joined at that level by Microsoft Corp.
MSFT,
Google parent company Alphabet Inc.
GOOGL,
GOOG,
Amazon.com Inc.
AMZN,
Facebook parent company Meta Platforms Inc.
FB,
and Tesla Inc.
TSLA,
Only Microsoft has joined Apple with a market cap of more than $2 trillion so far, but Google has flirted with that valuation repeatedly.
Apple’s market value has risen by roughly $2 trillion since its pandemic low on March 23, 2020, according to Dow Jones Market Data. Apple’s valuation is also larger than market values of the S&P 500
SPX,
energy, utilities, consumer staples, materials, and real-estate sectors, Dow Jones Market Data reported.
Shares were up 2.7% in Monday’s session, and have gained 28% in the past three months as the Dow Jones Industrial Average
DJIA,
has risen 6.3%.
