Daniel Ives, a senior fairness analysis analyst at Wedbush Securities, mentioned in a be aware Friday that it was a “historic day for the tech sector with Cupertino leading the way.”
The Cupertino, Calif.-based firm stands in sharp distinction to different main tech giants — equivalent to Meta, Google and Amazon — which have shed prices and laid off tens of hundreds of workers over the previous yr. (Amazon founder Jeff Bezos owns The Washington Post. The Post’s interim chief govt, Patty Stonesifer, sits on Amazon’s board.) In May, Apple chief govt Tim Cook mentioned the corporate was slowing down its tempo of hiring, however layoffs have been “a last resort.”
Apple’s document valuation comes a number of weeks after it unveiled its $3,499 Vision Pro headset, a significant wager on a tool that has but to be embraced by the broader public. Several different firms, together with Meta and Snap, are additionally engaged on face computer systems.
“The Apple bears and skeptics continue to scratch their heads as many have called for Apple’s ‘broken growth story’ this year in a tougher backdrop to which we firmly believe the exact opposite has happened with Cupertino heading into a massive renaissance of growth over the next 12 to 18 months,” Ives mentioned.
Apple set an analogous document in January 2022 when it hit a $3 trillion market cap throughout intraday buying and selling, nevertheless it didn’t shut the buying and selling day at that stage.