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Apple Stock Retreats From High
In intraday trading on Jan. 3, Apple reached a market value of $ 3 trillion when its shares reached 182.86. Apple stocks rose to 182.88 that day before the decline.
In Jan. 4, Apple stock also reached the $ 3 trillion mark. It achieved a record high of 182.94 before retreating. AAPL stock declined in the coming weeks but has tried to rise several times since then. Apple stock ended the regular session on May 6 at 157.28.
In August 2020, Apple became the first company to reach the $ 2 trillion market limit. Microsoft (MSFT) reached a record $ 2 trillion in June 2021. The Google parent Alphabet (GOOGL) was tracked in November.
Apple News History
Apple has been the subject of American success many times. First, it revolutionized the personal computer revolution of the 1970s with the Apple II. It then reintroduced PCs in the 1980s with Macintosh.
Founder Steve Jobs returned to run Apple in 1997 and oversees a winning series of new applications including the iMac, iPod, iTunes, iPhone, iPad and App Store.
The main driver of Apple's modern success is the iPhone. The game-changing smartphone, which began in 2007, sparked years of great growth and formed a solid foundation for customers who were willing to buy Apple products and services.
But iPhone sales have declined as users have clung to their handsets for a long time during development. However, the company is in the middle of a major development cycle with its 5G iPhones.
Apple Stock News: Spring Launch Event
On March 8, Apple hosted a spring product launch event where they unveiled a cheaper 5G iPhone. The third-generation iPhone SE is the company's new 5G smartphone. It starts at $ 429.
The new iPhone SE handset joins the company's second-generation 5G-enabled smartphones, the iPhone 13 series. Those smartphones were released last September.
At the spring launch event, Apple once again unveiled a new state-of-the-art Mac computer for creative professionals. Mac Studio desktop computer starts at $ 1,999. Also, Apple has introduced a new version of its iPad Air tablet.
But investors were not impressed. Apple stock dropped 1.2% on the day of the event.
Apple may not be announcing any other products or services until the International Engineers Summit this summer. The Apple WWDC is scheduled for an online event that runs from June 6 to 10.
Apple Growth Opportunities
With the growth of the iPhone business, investors are wondering what will be the next major growth driver for Apple stock.
Recently, two businesses offered Apple sales and profits a boost: services and clothing items.
In the March quarter, Apple's service revenue increased by 17% year-on-year to $ 19.82 billion. Services include App Store, AppleCare, Cloud, Apple Pay, Apple Music, Apple TV +, Apple Arcade and other offerings.
In March, Apple TV + became the first video streaming service to win an Oscar with the best image. Its film "CODA" won top awards at the 2022 Academy Awards.
At the moment, Apple is facing antitrust testing in the US, Europe and Asia with its App Store policies, which include its 30% commission fee.
Is Apple Stock Buying Now?
Apple stock is not buying yet but it could happen soon. It is in a consolidation pattern but the stock market is not stable right now.
