In the summer of 2018, Apple and Amazon engaged in a competitive race, marking a significant moment in the tech industry. Fast forward to today, Apple is on the verge of making history again by positioning itself to become the first publicly traded U.S. company to achieve a staggering $4 trillion market capitalization.
As of last Friday, Apple's stock closed at $255.65, resulting in a market cap of $3.87 trillion. To reach the coveted $4 trillion milestone, analysts estimate that Apple's stock needs to trade at approximately $264.28.
Apple isn't the only tech giant with high aspirations. A few of its competitors are also eyeing significant valuations:
- Nvidia: With a closing stock price of $137.01, Nvidia boasts a market cap of $3.36 trillion. The company would need its stock to trade around $163.11 to reach a $4 trillion valuation, bolstered by a remarkable 184% increase in shares this year, largely driven by demand in AI technology.
- Microsoft: This tech stalwart currently holds a market cap of $3.2 trillion. Despite starting the year with a higher valuation than Apple, Microsoft would require its shares to reach approximately $538.20 to hit the $4 trillion target.
- Amazon: Closing last week at $224.38, Amazon's valuation stands at $2.35 trillion, having seen nearly a 50% increase in stock this 2024.
- Alphabet: Once in contention with Apple to become the first to hit the $1 trillion mark, Google's parent company currently holds a market cap of $2.37 trillion, with the stock up 39% this year.
Apple's stock has been positively influenced by various market factors, showcasing the company's resilience and growth potential. The tech giant's journey began with its IPO in December 1980, offering shares at $22, a launch that transformed numerous investors into instant millionaires.
