How Much Is Apple Worth In 2023? Nobody’s Taking a Bite From This Market Share Any Time Soon
Key takeaways
- Apple recently reached a $3 trillion valuation
- The stock has been helped by the Apple Vision Pro, a stellar Nasdaq half-year and its own foray into AI
- The long-term growth drivers and solid balance sheet are safe bets for Wall Street
Apple is worth a lot of money. No, really — it recently became the first and only company to cross the $3 trillion threshold, having closed at a record high. But how exactly did Apple become the most valuable company in the world? Some factors have been of its own making, but there’s luck on Apple’s side too. Let’s take a closer look at what’s driven the heady highs this year.
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How much is Apple worth in 2023?
Apple surpassed the $3 trillion mark at the end of June, having flirted with the number before after reaching an intraday record back in January 2022. The stock has gained 54% this year to date, compared to the S&P 500’s 19% gain and the Nasdaq Composite’s 35.6% rise.
A market valuation that size will always draw questions of whether the stock is overvalued, but investors seem sold on Apple’s key growth drivers and solid financials. Over a trailing three-year period, Apple’s annual revenue grew by 44% while the operating income increased by 80%.
The Big Tech giant also has its quarterly earnings coming up, with a predicted $80.7 billion in revenue and profits of $1.17 a share.
How did Apple get here?
Several factors have led to Apple’s landmark valuation — some of which it can claim, others which have created a perfect storm for the stock to rise. Apple launched a brand-new product, the Apple Vision Pro AR headset, in the spring, which has impressed early beta testers and investors alike.
Another value add — $67 billion, to be exact — was the news that Apple is apparently secretly developing its own AI chatbot model for its suite of products. Apparently, the chatbot will only initially be used internally, but given Apple has stayed out of the AI fray, the news was music to traders’ ears.
Then there’s the dumb luck of the Nasdaq closing out its best-ever first half of the year in 2023. It’s gained nearly 40%, bolstered by the AI hype train that propelled mega-cap stocks like Microsoft, Google and Meta.
The bottom line
Apple’s put in an extraordinary amount of work and, helped by a bit of luck, created the most valuable company out there. What’s more is investors believe the stock has more room to grow, which is an exciting prospect for the Nasdaq and wider stock market. Let’s wait and see if Apple can deliver.
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