Shulou(Shulou.com)12/24 Report--

Thanks to CTOnews.com netizen lemon_meta for the clue delivery! CTOnews.com, December 6 (Xinhua)-- Apple shares rose 2% on Tuesday to close at $193.42, bringing the company's market capitalization to more than $3 trillion (CTOnews.com Note: currently about 21.42 trillion yuan).

Apple's market capitalization briefly hit the $3 trillion threshold in December 2022; it officially broke through $3 trillion at the close in June this year.

Apple shares hit an all-time high on July 31 and are still the most valuable listed company in the United States.

Apple has reduced its total number of shares through buybacks, but its shares have risen 52% so far this year, thanks to increased profits and a rebound in technology stocks.

The report says Apple's market capitalization has increased by $940 billion this year, higher than Meta, the world's seventh-largest company by market capitalization ($815 billion).

Analysts generally believe that apple's already high valuation has little room for growth, with an average target price of $197 for apple shares, which means only 2% room for growth. Apple now trades at about 29 times future earnings, well above the median price-to-earnings ratio of 17 times for the S & P 500.

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