Apple is leading the rankings in the trillion dollar giant company race!
Apple Inc. is approaching the level of reaching a market capitalization of US $ 3 trillion that will make the iPhone giant the world's fifth largest economy after Germany in just one year after reaching the level of US $ 2 trillion.
Apple shares are up 1.6% at US $ 174 and it needs to trade at US $ 182.85 to reach the target and maintain that strengthening trend dominated by investors who have risked its brand and see it as a safe -haven trend.
Its shares jumped about 30% this year coupled with an 80% increase in 2020 and by comparison the S&P 500 only increased 25% during the period.
Other trillion -dollar giants such as Microsoft, Amazon, Alphabet and Tesla only earn between 10% to 70%.
According to records, Apple has reached the level of US $ 1 trillion for its market capitalization in 2016 and took 2 years to double that value.
Apple shares have currently surpassed Wall Street’s median price target of US $ 4 with the majority of analysts giving the stock a ‘buy’ rating or above.
Earlier, Apple had lost its throne as the most valuable company to Microsoft Corp. earlier this year after chief executive Tim Cook noted supply chain problems and efforts to procure semiconductors and components to make smartphones and laptops.
Meanwhile, Microsoft is short of about US $ 500 billion to reach a market capitalization of US $ 3 trillion.
