Will Apple’s market cap touch 3 trillion dollars again with the launch of new iPhone model? | The Financial Express

Will Apple’s market cap touch 3 trillion dollars again with the launch of new iPhone model?

Apple stock is traded on the Nasdaq stock exchange under the ticker symbol AAPL and it happens to be the first company to surpass a $3 trillion market cap.

Will Apple’s market cap touch 3 trillion dollars again with the launch of new iPhone model?
The Apple event is watched the world over by iPhone customers, investors, and other stakeholders.

Apple Inc. finally held the Apple Event where the launch of the iPhone 14 was announced. For the 2.5 trillion dollar company, iPhones account for more than half of the company’s sales. The Apple event was watched the world over by iPhone customers, investors, and other stakeholders.

The timing of the Apple Far Out event was10 a.m. PT – Pacific Time or 1 pm Wednesday, Eastern Time (ET), 12 pm Wednesday, Central Time (CT). In India, it began at 10.30 IST and at 3 am Thursday, in Canberra ACT, Australia. On the Apple TV app, Apple’s YouTube channel, and Apple.com, one was able to access the event to watch it online.

Apple stock is traded on Nasdaq stock exchange under the ticker symbol AAPL and it happens to be the first company to surpass a $3 trillion market cap. The stock price of Apple has fallen in 2022 but thanks to a jump of 7% from June lows, the share is quoting around $155 ( market cap $2.5T), almost at the same level seen 12 months back. Compared to the performance of FANNG stocks or the Nasdaq 100 index, the Apple share price has relatively done well.

In the last ten years, the company’s stock has dropped seven times on the day a new model is introduced. This time, the pricing of the iPhone 14 has remained the same in USD, which might not go well with investors. A higher price may have offset the inflationary pressure to maintain margins. As early sales data trickle in a few months after the event, historically speaking, the shares tend to recover. It remains to be seen whether the price of Apple shares will increase.

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The iPhone is the main reason for Apple’s success in the modern era. The revolutionary smartphone, which debuted in 2007, fueled years of explosive growth and built a devoted following of consumers eager to purchase Apple goods and services.

Also Read: US stock market investors eyeing these 2 major events in September

One of the greatest investors of all time, Warren Buffett is a huge supporter of Apple products Berkshire Hathaway’s largest investment. Nearly 895 million shares of Apple stock, valued at about $122 billion as of June 30, which made up about 41% of Buffett’s holdings at Berkshire Hathaway, were held by him at the end of the second quarter.

Apple’s fiscal third quarter revenue was above Wall Street expectations thanks to stronger-than-anticipated iPhone sales and services revenue. Apple management feels the sales growth is expected to pick up steam in the September quarter as supply chain problems subsided.

The Apple share may remain volatile ahead of the Apple event and also after the announcements regarding new product launches. Long-term investors make use of dips in share price as an opportunity to add the stock to the portfolio.

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