Apple stock quickly hits a 3 trillion dollar valuation based on market cap

After hitting record highs on Thursday, Apple (AAPL) stock opened Friday to quickly hit a 3 trillion dollar valuation based on market cap for the second time ever.

In addition to intraday trading highs, the milestone to beat will be holding on to the 3 trillion dollar market cap — something that hasn’t been done before, notes 9to5Mac.

However, Bloomberg‘s Mark Gurman doesn’t the Apple Vision Pro announcement as a significant factor in Apple’s stock gains. From his report: At least in the short term, the Vision Pro will only appeal to the earliest of early adopters — people like software developers, Apple fanatics and mixed-reality zealots. The product has a $3,500 starting price, its underlying technology is still getting refined, and users will have to carry around an external battery pack. Moreover, Apple has yet to spell out a truly compelling reason to use the headset.

Apple itself knows that the headset is going to have a slow start. It’s expecting to sell about 900,000 units in the first year, contributing a few billion dollars in revenue […]

Shareholders know these realities. So it’s certainly not the Vision Pro that has driven Apple to the brink of the $3 trillion mark.

Apple previewed the US$3,499 (and up) Vision Pro at this month’s Worldwide Developer Conference. However, it won’t be available until early 2024.

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.