: Apple market capitalization briefly tops $3 trillion level in intraday trading

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Shares of Apple Inc. briefly crossed the threshold required for the company to achieve a $3 trillion market value Monday, though the stock turned lower.

Apple shares
AAPL,
+2.47%

reached an intraday high of $182.88 in Monday trading as of 2 p.m. ET, but fell lower than the mark needed for $3 trillion shortly after. Shares need to close at or higher than $182.86 for the company to become the first to finish a trading session with a valuation of $3 trillion or more.

Apple was the first U.S. company to hit the $1 trillion mark, in 2018, and has since been joined at that level by Microsoft Corp.
MSFT,
-0.78%
,
Google parent company Alphabet Inc.
GOOGL,
+0.31%

GOOG,
+0.46%
,
Amazon.com Inc.
AMZN,
+2.17%
,
Facebook parent company Meta Platforms Inc.
FB,
+0.91%

and Tesla Inc.
TSLA,
+13.37%

Only Microsoft has joined Apple with a market cap of more than $2 trillion so far, but Google has flirted with that valuation repeatedly.

Apple’s market value has risen by roughly $2 trillion since its pandemic low on March 23, 2020, according to Dow Jones Market Data. Apple’s valuation is also larger than market values of the S&P 500
SPX,
+0.53%

energy, utilities, consumer staples, materials, and real-estate sectors, Dow Jones Market Data reported.

Shares were up 2.7% in Monday’s session, and have gained 28% in the past three months as the Dow Jones Industrial Average
DJIA,
+0.52%

has risen 6.3%.