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Apple Breaks Record in Stock Market, Added $190 Billion to m-cap in Single Day

Industry: Consumer Electronics
Current: Company Performance

Apple became the first US-listed company to add 190.9 billion in its market value overnight
With the newly added value, Apple reached a market capitalization of $3 trillion
The new valuation has restored Apple's position as the world's most valuable company after it was dethroned by Saudi Aramco earlier this year

Apple Registered Continued Revenue Growth Across Various Regions

Apple registered double-digit growth in its revenue across various geographic locations. The company also demonstrated its capability to operate the business effectively, despite ongoing unstable economic conditions and a challenging environment. The company registered continued to profit in the third quarter with its installed base of active devices reaching an all-time high across all geographic and product segments.

Apple Witnessed Strong Demand Despite Supply Constraints, Restoring Investor’s Faith

With the ongoing economic instabilities, Apple witnessed larger-than-expected supply constraints, costing the company approximately $6 billion. Despite the supply issues, the company received continued demand from customers across various geographies. As a result of Apple’s strong balance sheet and prodigious cash flow, which it uses to invest in new products, stock buybacks, and return capital to shareholders through dividends, Apple served as a haven for investors during the recent market turbulence.

Apple’s Peers are Coming Closer, in Terms of Valuation

With a record-breaking gain of 190.9 billion in the market valuation, Apple eclipsed Amazon Inc.’s $190.8 billion gain in February 2022. Furthermore, other peers are nearing Apple’s valuation with Microsoft worth about $2.5 trillion, Amazon at $1.75 market cap, and Google at $2 trillion.

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