Broader market was set to extend a recovery from the pandemic shock. PHOTO: REUTERS
Apple is within striking distance of $3 trillion market capitalisation, a milestone that would make it as big as the world’s fifth largest economy after Germany, just over a year after breaching the $2 trillion mark. Shares of Apple were up 1.6% at $174 on Wednesday. They need to trade at $182.85 to hit the mark and cap a strong rally that has been powered by investors betting on its brand and viewing it as a comparative safe haven. The stock has jumped about 30% this year on top of an 80% surge in 2020. In comparison, the S&P 500 has risen 25% for the period.
Published in The Express Tribune, December 9th, 2021.
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