The bulls of Wall Street must have been busy buying shares of AAPL today after yesterday’s announcements of new products and services. As of around 2 PM EDT today, shares of Apple were trading at about $222.33, enough to bring the company’s market capitalization above $1 trillion again.
As you’ll recall, the company briefly hit the $1 trillion mark late in 2018 before share prices fell precipitously to a low of $142 in January of 2019. It’s apparent that the strength of the product announcements yesterday, coupled with the surprisingly low price tag on Apple Arcade and Apple TV+, were enough to make investors snap up shares of Apple. The share price is up almost $5.47 per share (about 2.5%).
Of course, the share price could drop again by the close of day, bringing the market cap back below the magic trillion-dollar mark, but it’s nice to see the company back in the rarified territory that’s currently only inhabited by Microsoft and itself.