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Apple approaches $3 trillion market cap

Apple is on the cusp of another milestone. The tech giant could soon be worth $3 trillion, just over a year after breaching the $2 trillion mark.With a market cap like that, if Apple were a country, it would be as big as the world’s fifth largest economy after Germany. Martin Yang is a senior analyst in equity research for Oppenheimer & Co: “…in a way, you know, it’s shocking to see it as large as a country, but in a way it’s a natural result of a company that is producing a piece of must-have consumer hardware that also happens to be the highest in quality.” Apple’s stock has jumped about 30% this year on top of an 80% surge in 2020 – powered by investors betting on its brand and viewing it as a comparative safe haven. Apple hit $1 trillion in market capitalization in 2018 and took two years to double that valuation. To hit the new milestone of $3 trillion – Apple will need to trade above $182.85.They finished Thursday shy of that – around $174 a share.

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