Apple is close to another record as valuation crosses $1 Trillion again

Apple just recently concluded its biggest launch event where the company unveiled new iPhones, new iPad as well as subscription services such as Apple Arcade and Apple TV+. Now, the Apple iPhones are expected to do well this year after its worst-performing year in 2018. It has been some time since Apple concluded its launch event and we have seen a mostly positive response from users after the event. The same can also be said about the stock market which seems to be bullish about the Apple event.

We are saying this because Apple is close to crossing the $1 Trillion mark once again. We saw that the company crossed the $1 Trillion valuation earlier this year. However, the valuation declined later due to weak projections from Apple regarding its sales. As a result, Apple hosted a new service-only event in the first half of 2019 where the company talked about its services and launched various new subscriptions including Apple News+.

Apart from crossing the $1 Trillion valuation, the company is also close to a new record. In the current market situation, Apple is valued at close to $1.02 trillion which is just below Microsoft’s valuation which is currently the largest publicly traded U.S. stock with a $1.05 trillion valuation.

Talking about the Apple shares, it is the fourth straight session in which the company’s shares rose and they have gained 17% since the lowest they were in August this year. However, Apple also hit a record high last year in October 2018 and the company is just 3% below that record mark which it could achieve if the markets remain bullish towards Apple.

One of the main reasons behind Apple’s rise in the stock markets is due to the forecast that prices of the latest iPhones could be very high. However, the prices of the latest iPhones are believed to be “cheaper than had been expected”, as Bloomberg reports.