Apple's Market Value Hits $3 Trillion, Fueled by Nasdaq's Strongest Start in 40 Years; Surpasses Nepal's GDP by over 100 Times

Apple's Milestone Market Cap Highlights Extraordinary Growth and Dominance in Comparison to Nepal's Economy

Apple reached an unprecedented milestone on Friday, with its stock concluding trading valued at $3 trillion, making it the first company ever to achieve this feat. The surge in Big Tech stocks, propelling the Nasdaq to its best first-half performance in four decades, has contributed to Apple's remarkable growth.

Closing at a record $193.97 per share, Apple experienced a more than 2% increase on Friday. With 15.7 billion shares in circulation, this surge propelled Apple to its historic market value.

While Apple previously reached the $3 trillion mark during intraday trading on January 3, 2022, it failed to close at that level. However, the company comfortably surpassed the required threshold of $190.73 at the market open on Friday.

Apple's skyrocketing valuation follows the recent release of the Apple Vision Pro, an augmented reality device, and a better-than-expected quarterly earnings report in May, despite a decline in sales and profit.

Impressing tech journalists during early previews, the Apple Vision Pro is set to go on sale next year. However, it enters a market with limited mainstream consumer adoption. Priced at a hefty $3,499, the headset currently offers limited apps and experiences, and users must remain connected to a battery pack the size of an iPhone.

Apple's stock (AAPL) has surged by 49% this year, driven by the broader AI trend that has captured investor attention. Nvidia (NVDA) leads the S&P 500 with a 190% increase, followed by Meta (META) at 138%.

The Nasdaq posted a remarkable 31.7% gain in the first half of the year, marking its largest percentage increase for a first half since 1983.

Apple's exceptional performance in the stock market this year stands in stark contrast to 2022 when its market capitalization fell below $2 trillion for the first time since early 2021.

As the tech rally led markets to close higher for both the month and the second quarter of 2023, Wall Street ended the first half of the year on a positive note.

With a price-to-earnings ratio of 32.96, Apple's stock demonstrates a strong correlation with its fundamentals.

Furthermore, Apple's market value surpasses Nepal's GDP by over 100 times. According to trading economics, Nepal's GDP averaged 8.47 USD billion from 1960 until 2022, reaching an all-time high of 40.83 USD billion in 2022 and a record low of 0.50 USD billion in 1963. This striking comparison highlights the vast difference in scale between Apple and Nepal's economy.