Apple is not far from a market value of US$3 trillion (approximately Rs 2,634,700 crore). This is a milestone that will make it the fifth largest economy in the world after Germany.

Apple shares rose 1.6% to US$174 (approximately Rs 13,140). They need to trade at US$182.85 (approximately Rs 13,810) to reach their goal and end the strong rebound driven by investors betting on their brand as a relative safe haven.

Based on the 80% surge in 2020, the stock has risen about 30% this year. In contrast, the S&P 500 Index rose 25% during this period. Because of this very powerful brand. Its new product line is also very strong,” said Susannah Streeter, senior investment and market analyst at Hargreaves Lansdown.

“Although there are some weaknesses in acquiring phones and ensuring that they are available to the public, people expect Apple to still come for you.” Apple reached $1 trillion (approximately 75 rupees) in 2018 with a market value of 50,560 million Billion U.S. dollars), and it took two years to double the valuation.

The stock has exceeded Wall Street’s median price target of $4 (approximately 300 rupees), and most analysts have rated the stock as “buy” or higher.

Earlier this year, after CEO Tim Cook commented on supply chain dilemmas and efforts to purchase semiconductors and components for the manufacture of smartphones and laptops, Apple briefly Lost the title of Microsoft’s most valuable company.

The market value of Microsoft is approximately US$500 billion (approximately Rs 37,756.35 crore), which is far from the market value of US$3 trillion (approximately Rs 2,634,700 crore).

Complete News Source : Gadgets360