Apple had a strong market performance yesterday and that pushed Apple to another record high price. With the boost in the market value, Apple’s market value surpassed $1.5 trillion marks making Apple the first US company to reach that value.
The market capitalization is simply the company’s outstanding share stock multiplied by the share value. It gives the overall company’s stock market value. Currently, Apple has almost 4.3 billion shares outstanding and each share has a price of $352. This makes the overall market capitalization $1.53 trillion.
Over the past recent years, Apple’s total share count has not been going up. The reason is that Apple is aggressively buying back the stocks. Buying their stocks increases the value of the shares that remain in the market however it reduces the overall market capitalization.
Apple hit the all-time high share price in January 2020. However, due to the global health crisis, the stock slid along with the rest of the market. Due to the health crisis very company saw a decline in the share value and Apple saw a 35% reduction in its share value. However, Apple recovered slowly which has now bought Apple back to an all-time high value as it continues to grow in the past few days.