When Apple's shares reached 182.86 in intraday trading on Jan. 3, the company's market worth temporarily surpassed $3 trillion. That day, Apple shares reached a high of 182.88 before falling down. On January 4, Apple stock surpassed the $3 trillion milestone for the second time. It reached a new high of 182.94 before retracing its steps. For the following three days, its stock was trending lower. On Jan. 13, AAPL shares closed at 172.19 in the regular session.
The $3 trillion mark is largely symbolic, but it demonstrates that investors are optimistic about Apple's prospects. Apple became the first business to attain a market capitalization of $2 trillion in August 2020. In June 2021, Microsoft (MSFT) surpassed the $2 trillion mark. In November, Alphabet (GOOGL), the parent company of Google, followed suit.
Apple conducted its second product announcement event of the autumn on Oct. 18. It unveiled new MacBook Pro laptop computers, third-generation AirPods wireless earphones, and a lower-cost Apple Music subscription tier. The shares of Apple increased by 1.2 percent as a result of the announcement.
On Sept. 14, the Cupertino, Calif.-based business launched the iPhone 13 series, its second-generation 5G-enabled devices. The new phones are minor updates to the iPhone 12 series from last year. Brighter screens, faster CPUs, better cameras, and longer battery life are all features of the iPhone 13 devices.
The new handsets, like the previous ones, feature display sizes of 5.4, 6.1, and 6.7 inches and start from $699 to $1,099.
Apple also revealed the Apple Watch Series 7 wearables and new iPad tablets at the September event. Investors, on the other hand, were underwhelmed by the news. Following the event, Apple's shares dropped 1%.
On September 24, the iPhone 13 series went on sale, and the early reception was good.
Now, investors are asking what the next big growth driver for Apple stock will be as the iPhone industry matures.
Apple's sales and profitability have recently been boosted by two businesses: services and wearables.
Apple's services revenue increased by 26% year over year to $18.3 billion in the September quarter. The App Store, AppleCare, iCloud, Apple Pay, Apple Music, Apple TV+, Apple Arcade, and more services are available.
Meanwhile, Apple's App Store rules, particularly its 30% commission charge, are being investigated by antitrust authorities in the United States and Europe. Apple decreased its compensation rate for small developers to 15% in November 2020, likely to placate authorities. However, Apple's price fell in the days after the announcement.
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