What you need to know
- Apple is on course to break the $2.5 trillion market cap threshold on Thursday.
- The company is right on the brink at $2.49 trillion, and shares are up in pre-market trading.
Apple could become the first publicly-traded company to break the $2.5 trillion market cap threshold when markets open on Thursday.
The company made strong gains Wednesday, closing at $149.15, up 2.41% on the day, a new all-time high record. The price means Apple is also teetering on a market cap valuation of 2.49 trillion. AAPL is already up around 0.4% in pre-market trading, indicating the company is likely to pass the $2.5T valuation threshold today.
Apple's record-breaking July continues, having posted three all-time high share prices this month already, from a Wednesday report:
Apple will hold its Q3 earnings call on July 27 in just under two weeks, where it will announce its financial results from the most recent quarter. As previously noted, Apple has told investors that it expects to post strong double-digit growth year on year, but a more pronounced sequential dip thanks to the delayed launch of the iPhone 12. Recent reports claim Apple could sell 226 million iPhones in 2022 thanks to iPhone 13.
JP Morgan's Samik Chatterjee recently raised their Apple share target price from $170 to $175, citing strong recent outlooks for both the Mac and the iPhone.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9