Apple almost reaches $3trn valuation, but not quite

29 Jun 2023

Image: © Mark Roger Bailey/

Apple reached trillionaire status in 2018 before surpassing the $2trn mark in 2020. It became a triple trillionaire for half a day last year.

Apple’s stock value increased yesterday (28 June) to almost reach a $3trn market capitalisation, making this the second time the company’s valuation has hovered around the $3trn milestone.

The company’s stock rose 0.6pc to end yesterday’s trading at $189.25, putting Apple’s market value at $2.98trn, according to Refinitiv data reported by Reuters.

Apple achieved a record $3trn valuation in January 2022, albeit very briefly, when it surpassed the mark during intra-day trading. The tech giant closed the day’s session at just below $3trn. However, the achievement was notable as it meant Apple was the first publicly traded company to reach the milestone valuation.

Last year’s record was driven by very high demand globally for Apple products and services, while this year’s very close call can possibly be attributed to its recent launch of an AR headset. Apple revealed its Vision Pro headset on 5 June at its annual Worldwide Developers Conference. The tech marks a new era of computing according to the company’s CEO Tim Cook.

“Just as the Mac introduced us to personal computing, and iPhone introduced us to mobile computing, Apple Vision Pro introduces us to spatial computing,” he told conference delegates. The eye-wateringly expensive headset will be available later this year and anticipation is high which may have influenced stock.

A month before the headset was announced, Apple beat analysts’ expectations of its revenue for Q2 of 2023 thanks to iPhone sales. This meant the company’s shares rose by around 2pc in extended trading.

Apple first reached trillionaire status in 2018 before surpassing the $2trn mark in 2020. It was the first US company to reach the latter milestone. Its rival Microsoft has been hot on its heels reaching a $2trn valuation in 2021, but it has yet to surpass heights of $3trn.

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Blathnaid O’Dea was a Careers reporter at Silicon Republic until 2024.