Apple's market value breaches US$3 trillion mark again

APPLE’S market capitalisation on Friday (Jun 30) breached the US$3 trillion mark again, as investors bet on the iPhone maker’s ability to grow its revenue even as it explores new markets such as virtual reality.

Shares of Apple, which is also the world’s most valuable listed company, were up 0.9 per cent at US$191.4 in morning trading.

Apple’s market value briefly peaked above US$3 trillion in intraday trading on Jan 3, 2022, before closing the session just below that mark.

The latest gains in Apple shares come as technology stocks rebound on bets that the Federal Reserve may be slowing its pace of interest rate hikes, as well as on the buzz around artificial intelligence. REUTERS