Shares of the Apple are up 47% over the past year and more than 1,000% over the past decade
Earlier today, Apple shares hit their highest price in their 43-year history, as the world’s largest company continues to grow. The shares gained 1.5% in morning trading, hitting a high of $183.99, surpassing their previous all-time high of $182.94 reached last January.
Shares of the Silicon Valley giant rose 47% in 2023, erasing its 27% drop last year and leading the broadest rally in technology so far this year.
Monday’s upload comes hours before Apple’s Worldwide Developers Conference, where it is expected to unveil its mixed-reality headset, one of its biggest product launches of the past decade.
Apple’s market capitalization now stands at about $2.9 trillion, about $400 billion more than the next most valuable public company on the planet, Microsoft.
1.8 million dollars
That’s what a $1,000 investment in Apple’s initial public offering in 1980 would be worth now, when the shares were trading at a split-adjusted level of $0.10.
Apple amassed about $820 billion of market capitalization this year, more than the respective total valuations of Berkshire Hathaway, Meta and Tesla. General investor sentiment on large-cap tech stocks has shifted dramatically from bearish to bullish in the past year, thanks in large part to Apple’s positive results in the first quarter of 2023.
Apple’s strong financial results were boosted by record quarterly revenue of $20.9 billion from its Services segment, which includes App Store sales and other non-product revenue streams.