Apple Charges Near To France's Stock Market
Apple, on the stock market boards has accelerated again. One of the very valued companies in the world, Apple is again displaying signs of raising its worth, with no signs of easing down. On Thursday, Apple closed on a high note as the American multinational iPhone making company’s market value surged up to France’s stock market, the largest stock market in Europe. Apple was nearly about to eclipse France’s stock market.
On closing at Wednesday, the market value of all the listed companies in Paris came up to about $3.2 trillion and the iPhone maker Apple Inc.’s market value stood close at $3.1 trillion, the ET reported, as per an index compilation by Bloomberg. This is not the first time that Apple has shown this sort of surge in its market value. During the last year’s second part sell-off, France’s stock market and Apple Inc. had switched positions many times as the central banks had tried to rope in inflation by raising interest rates.
This week as Apple charged well, the Paris stock market also displayed a high which was pushed by luxury synonyms LVMH, owner of Louis Vuitton and Hermes International SCA, manufacturer of Birkin bag. The stocks had drawn back at the start of mid-summer and revived in recent weeks only, sensing the drop-down in inflation and no evidence of a US recession reported the ET.
A similar picture in the US has led to a rise in the stocks of technology companies, in particular, of the big companies. In the year 2023, Apple surged to above 50 percent, which brought about a market value of $1 trillion. On Thursday, showcasing a new all-time high, the shares went up by 0.1 percent to close at $198.11.
In October, the stocks were under stress, to the growth in revenue and sales in China. Looking at the October scenario, the recent rise is a huge turn back for Apple.
Keeping the iPhone’s premium positioning, pick-up in service sales and price benefits, Citigroup Inc. analyst Atif Malik says that, “the bears on the stock are missing the structural gross margin expansion story,” adding that, the above trends are expected to continue in the coming year and that AI Phones and Vision Pro adoption could be “potential upside catalysts.” He targeted the gains from shares to $230.
As per Wall Street, the revenue of the company is expected to go up in 2024. This would be based on the rebounding demands for smartphones, laptops and computers.
