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Record share prices – Apple hits $2.4 trillion market cap

Apple’s closing share price on Wednesday 7 July hit an all-time high of $144.57, putting the company’s market capitalization at an eye-watering $2.4 trillion.

It’s no surprise, really, after a record-breaking quarter earlier this year helped Apple’s sales figures soar despite (or perhaps thanks to) the effects of the pandemic over the past year-and-a-half.

Apple’s next quarterly earnings report is due at the end of July, so we’ll be able to see whether it can keep the momentum going during what is typically a slow part of the year. That’s because customers are reluctant to upgrade with new iPhones just around the corner.

Related reading: big camera upgrades due this year for iPhone 13 Pro

Despite these impressive figures, Apple Insider notes that Apple’s overall share price this year hasn’t grown as much as some of the other big tech giants. Apple’s gains of 9% in 2021 don’t quite match the gains of the S&P 500 Index as a whole, which stands at 16%.

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