Apple Stock Exceeds $3 Trillion Market Value

The security is up more than 40% year-over-year

Deputy Editor
Jan 4, 2022 at 10:18 AM
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Last night, FAANG stock Apple Inc (NYSE:AAPL) became the first U.S. company to exceed the $3 trillion market cap. At last check, AAPL was trading down 0.1% at $181.85, which is slightly less than the $182.86 level needed to maintain its noteworthy market value.  

Last time we checked in on Apple stock, the security was nearing this aforementioned milestone. The shares limped into the new year, but support emerged at the shares' 20-daymoving average. Year-over-year, AAPL boasts a 40.6% lead.

The options pits were already overwhelmingly bullish, coming into today. AAPL's 50-day call/put volume ratio of 3.34 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands higher than 72% of readings from the last year. This means long calls have been getting picked up at a faster-than-usual clip of late.

While analysts of course are all-in, Apple stock could be ripe for a round of price-target hikes. The securities' 12-month consensus price target of $176.01 is a 3.2% discount to its current trading level.

 

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