Apple regains its $3 trillion valuation despite analysts doubts
Apple is the most valuable publicly traded company in the US, and its valuation has again exceeded $3 trillion, even as financial analysts have been concerned about sales for the iPhone 15 range.
In January 2022, Apple became the first company to reach a $3 trillion market capitalization, but then that market cap figure steadily decrease over the next year.
That decrease brought Apple back under $3 trillion, but it happened chiefly because of what were described as investor jitters.
This pattern repeated itself in June 2023, as Apple's valuation went back up over $3 trillion -- only to again fall steadily immediately afterwards.
June was when Apple announced its forthcoming Apple Vision Pro, and since then it has also launched the iPhone 15 range. But while investment analysts have been mixed in their advice about Apple, there have been issues over the iPhone 15 not selling as well as the iPhone 14, especially in China.
On December 5, Apple share price rose 2% to $193.42 per share. The trend continues on Wednesday morning, with the stock inching up in pre-market trading.
It's not clear how long it will retain that valuation, however. Apple routinely buys back stock, and Apple has already said that it does not expect annual revenue growth for its December quarter. This is the first full quarter where the iPhone 15 range was available, but could now be the fifth quarter in a row where Apple has seen declining sales.
Read on AppleInsider