Benzinga - by Zaheer Anwari, Benzinga Contributor.
- Apple Inc. has demonstrated remarkable growth in 2023, with its market capitalization increasing by $1 trillion.
- The company recently surpassed a $3 trillion market cap.
- Analysts are highly optimistic about Apple's future, projecting that it could reach a $4 trillion market cap by the end of 2024.
- Apple's stock has achieved new record highs towards the end of the year.
More recently, Apple has surpassed the $3 trillion market cap milestone, highlighting its strong financial position and the trust investors have in the company.
Analysts are optimistic and predict that Apple could achieve a $4 trillion market cap by the end of 2024. The stock market has responded strongly to Apple's performance.
Towards the end of the year, the stock reached new record highs, surpassing the previous peak in July at $198. This accomplishment is impressive, especially considering that the stock had previously experienced a 15% decline when these highs were initially reached.
Apple showed its strength by rebounding with an impressive 18% recovery. The stock is currently at a crucial point, approaching a significant milestone, the $200 psychological round number.
This level holds the key to the stock's future trajectory. A breakthrough above this level may initially lead to a decline, but if the stock can maintain its momentum and stay above $200, it is expected to continue its upward trend.
The year's growth has reached an impressive 52%, with the potential for further expansion if buyers continue to dominate the ongoing battle against sellers.
After the closing bell on Thursday, December 14, the stock closed at $198.11, trading down by 0.08%.
This article is from an external contributor. It does not represent Benzinga's reporting and has not been edited for content or accuracy.
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