Apple's capitalization exceeds $3 trillion and approaches total value of French stock assets

The rise in the value of Apple, the most expensive publicly traded company globally, continues to astonish the global financial community. After its shares closed at a record high on Wednesday, the market capitalization of the iPhone manufacturer approached the total market value of the entire stock market in France, one of the largest in the European Union (EU).

According to Bloomberg's index, the combined market value of companies in Paris reached $3.2 trillion at the close of trading on Wednesday, while Apple's market capitalization stood at a whopping $3.1 trillion. This positions Apple as the largest company, trailing only the six largest stock markets globally.

This is not the first time that the Cupertino-based company in California has surpassed the value of companies listed in Paris. In the second half of last year, these two financial heavyweights repeatedly switched places amid a general market decline prompted by central banks raising interest rates to combat inflation.

The French stock market itself reached record highs this week, thanks to the success of luxury segment companies such as Louis Vuitton owner LVMH and Birkin bag manufacturer Hermes International SCA. After a decline in luxury company stocks in mid-summer, they have once again started to rise in recent weeks due to decreasing inflation and speculation that interest rates may have peaked, with no signs of a recession in the US.

This economic dynamic has renewed interest in the stocks of technology companies, particularly the largest ones, in the US. For instance, Apple's value has increased by over 50% in 2023, adding nearly $1 trillion to its market capitalization. This growth marked a turning point in October of this year when the company's shares were under pressure due to concerns about revenue growth and Apple product sales in China.

Wall Street analysts expect that in 2024, Apple's revenue growth will accelerate due to the recovery in demand for smartphones, laptops, and computers. These forecasts, compiled by Bloomberg, are based on the average estimates of analysts and reflect market optimism about the company's future development in light of changing technological trends.