Apple nears record as market cap again surpasses $1trn | Fin24
 
  • Ferial Haffajee

    Why Minister of Public Enterprises Pravin Gordhan’s patriotism call to fly SAA flopped.

  • Solly Moeng

    State capture is meant to be over, but we aren't free if its beneficiaries go unpunished.

  • South African Airways

    A business rescue practitioner has been appointed to try and save the struggling flag carrier.

Loading...

Apple nears record as market cap again surpasses $1trn

Sep 12 2019 21:03
Ryan Vlastelica
Apple was fined A$6.7m for making false claims abo

Apple was fined A$6.7m for making false claims about consumer rights when refusing to fix faulty iPhones and iPads previously repaired by a third party. (Photo: Peter Parks, AFP)

Related Articles

Apple unveils iPhone 11 models, with price cut

WATCH: What to look out for at Apple's September 10 event

Apple's R674bn drop shows growing cost of China reliance

 

Apple shares rose for a fourth straight session on Thursday, with the iPhone maker hitting its highest level since October as investors continued to feel bullish about the company’s recent product event.

Shares gained as much as 1.3% on the day and have risen nearly 17% off a low hit in August. The rally puts the company less than 3% below a record close hit in October 2018.

With the day’s move, Apple further expanded its market capitalization above the $1trn threshold. When Apple closed in the 13-digit club on Wednesday, that was the first time it had done so this year.

At current levels, Apple has a valuation of about $1.02trn, putting it slightly under Microsoft, the largest publicly traded U.S. stock, with a valuation of $1.05trn.

Microsoft has consistently had a valuation above $1trn ever since early June, and it has been larger than Apple since late April.

At its product event earlier this week, Apple unveiled new versions of its iPhone that were cheaper than had been expected, along with arcade and video-streaming services that were also seen as inexpensive.

Bloomberg Intelligence wrote that the iPhone price was "likely to aid unit growth", while the Apple TV+ service "may attract new users and draw existing ones more deeply into Apple’s ecosystem".

apple  |  companies  |  tech
NEXT ON FIN24X

 
 
 
 

Company Snapshot

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...