Apple could become 1st US company worth $3 trillion
ABC News
The tech giant's stock was hovering just below the "watershed" milestone.
Apple's stock on Tuesday morning was hovering just below the threshold required to reach a market capitalization of $3 trillion, a milestone no publicly traded U.S. company has ever reached.
Shares for the iPhone maker hit an all-time high Monday during intraday trading before opening slightly lower Tuesday at $175.25 per share, roughly 4% shy of the $182.86 required to reach the historic mark.
The tech giant's stock has gained more than 30% in 2021 and skyrocketed by nearly 500% over the past five years.
Analyst Dan Ives, managing director of equity research at Wedbush Securities, said in a note shared with ABC News that hitting the $3 trillion market cap would be "another watershed moment for Apple as the company continues to prove the doubters wrong with the renaissance of growth story playing out in Cupertino."
