Shares hit all-time high weeks after tech group showed off headset pitched to set its future course
Apple was the first company to achieve a $1 trillion valuation in August 2018 and two years later became the first company to be valued at $2 trillion.
The tech giant’s latest record is arguably more significant than its previous peak in January 2022, when the broader S&P 500 was worth more than $40 trillion, versus $36.5 trillion now, according to S&P Dow Jones Indices. The factors behind Apple’s soaring stock are less obvious, as it has recorded back-to-back quarters of revenue declines – following a 14-quarter growth streak. Analysts also project full-year revenues this year of $385 billion, a fall of 2.4 per cent and only the third decline of the past 22 years.
Tom Forte, analyst at DA Davidson, an investment bank, attributed Apple’s rally to supply chain improvement after China ended its zero-Covid policy last year, and investors putting more cash into quality stocks following the collapse of Silicon Valley Bank in March.
Ireland Latest News, Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
European shares rise as US data eases concerns about recessionLagarde comments on enduring inflation tempers mood
Read more »
Apple in standoff with EU over treatment of music streaming rivalsSpotify says that Apple’s anti-steering rules prohibit it and other developers “from telling consumers about any deals or promotions through their own apps”
Read more »
Woman shares her exact weekly food shop to maintain 11.5 stone weight lossThe fitness guru lost an incredible 11.5 stone over the course of 18 months, and is now dedicating her time to helping others who are on their own weight loss journey
Read more »
Barry Keoghan shares sweet video of son, BrandoBarry Keoghan has shared the sweetest video of his son, Brando. We just can't cope with how cute these two are.
Read more »
Lauren Arthurs shares inspiration behind daughter's nameLauren Arthurs has shared the inspiration behind her newborn daughter's name, Fallyn on social media this week.
Read more »
Naomi Campbell shares first snap after welcoming her second child at 53 | Her.ieNaomi Campbell has confirmed the arrival of her second child this evening. The world-renowned model took to Instagram to welcome her baby boy and shared
Read more »