Apple (15)

Apple Creates History as First Tech Company to Hit $3 Trillion Valuation

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Apple became the first corporation in the world to surpass a market value of $3 trillion, boosted by forecasts that the Federal Reserve will raise interest rates more gradually and optimism for the company’s growth into new markets.

In a month defined by investor excitement in artificial intelligence’s potential, the iPhone maker’s increase was among the most eye-catching. 

Share purchasers also gave preference to businesses with robust balance sheets and cash flows.

Apple’s most recent quarterly report, released in May, revealed that its revenue and profitability above analysts’ forecasts, and the company’s history of stock buybacks furthered its standing as a secure investment in times of economic instability.

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