Apple on track to close first half of 2023 with $3 trillion market cap
Apple Inc. could close out the June quarter with a bang as it tracks toward clinching a $3 trillion valuation.
Apple’s market capitalization alone is larger than the market caps of the S&P 500 Utilities, Real Estate and Materials sectors combined, according to Dow Jones Market Data. His bullish note came as Apple shares have surged 46% so far in 2023 amid a strong first half of the year for Big Tech players. Wedbush analyst Daniel Ives chimed in that Apple shares could come to fetch a higher multiple as the company nears $100 billion in annual services revenue for fiscal 2024, compared with about $50 billion in fiscal 2020.
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