AGL 40.08 Decreased By ▼ -0.12 (-0.3%)
AIRLINK 129.21 Increased By ▲ 0.10 (0.08%)
BOP 6.59 Decreased By ▼ -0.01 (-0.15%)
CNERGY 4.15 Increased By ▲ 0.12 (2.98%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 42.15 Increased By ▲ 0.90 (2.18%)
DGKC 87.30 Increased By ▲ 0.30 (0.34%)
FCCL 33.50 Increased By ▲ 0.15 (0.45%)
FFBL 66.25 Increased By ▲ 0.35 (0.53%)
FFL 10.64 Increased By ▲ 0.10 (0.95%)
HUBC 112.88 Increased By ▲ 2.18 (1.97%)
HUMNL 16.04 Increased By ▲ 0.81 (5.32%)
KEL 4.79 Increased By ▲ 0.01 (0.21%)
KOSM 7.73 Decreased By ▼ -0.10 (-1.28%)
MLCF 42.52 Increased By ▲ 0.62 (1.48%)
NBP 61.08 Increased By ▲ 0.58 (0.96%)
OGDC 189.74 Increased By ▲ 6.94 (3.8%)
PAEL 26.25 Increased By ▲ 0.89 (3.51%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 149.25 Increased By ▲ 1.44 (0.97%)
PRL 25.33 Increased By ▲ 0.77 (3.14%)
PTC 16.34 Increased By ▲ 0.10 (0.62%)
SEARL 70.70 Increased By ▲ 0.20 (0.28%)
TELE 7.30 No Change ▼ 0.00 (0%)
TOMCL 36.15 Decreased By ▼ -0.15 (-0.41%)
TPLP 8.03 Increased By ▲ 0.18 (2.29%)
TREET 16.20 Increased By ▲ 0.90 (5.88%)
TRG 51.74 Increased By ▲ 0.04 (0.08%)
UNITY 27.40 Increased By ▲ 0.05 (0.18%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,933 Increased By 91 (0.92%)
BR30 30,521 Increased By 484.4 (1.61%)
KSE100 93,224 Increased By 703.7 (0.76%)
KSE30 28,984 Increased By 197.6 (0.69%)

NEW YORK: Apple Inc’s market capitalization on Friday breached the $3 trillion mark for the first time since January last year, as investors bet on the iPhone maker’s ability to grow revenue even as it explores new markets such as virtual reality.

Shares of Apple, which is also the world’s most valuable- listed company, were up 1.3% at $191.99 in morning trading. They have jumped nearly 46% this year and, at the current price, the company’s market value stands at $3.02 trillion.

Apple’s market value briefly peaked above $3 trillion in intra-day trading on Jan. 3, 2022, before closing the session just below that mark.

The gains in Apple shares come as technology stocks rebound on bets that the Federal Reserve may be slowing its pace of interest rate hikes as well as on the buzz around artificial intelligence.

Apple’s less-than-expected fall in sales in its most recent quarterly report has highlighted the tech giant’s resiliency in an uncertain economy and reinforced its reputation among investors.

Currently, four other US companies have a valuation of more than $1 trillion - Alphabet Inc, Microsoft Corp , Amazon.com Inc and Nvidia Corp.

Comments

Comments are closed.