Shares of Apple, which is also the world's most valuable- listed company, were up 1.6% at $192.6, after touching a record high of $193.15 during the day.
They have jumped nearly 46% this year and, at the current price, the company's market value stands at around $3.02 trillion.
Apple's market value briefly peaked at above $3 trillion in intra-day trading on Jan. 3, 2022, before closing the session just below that mark.
Apple's 12-month forward price-to-earnings multiple (P/E), a common benchmark for valuing stocks, is 29.49, well above the sector median of 13.14, according to Refinitiv data.
Currently, four other U.S. companies have a valuation of more than $1 trillion - Alphabet Inc (GOOGL.O), Amazon.com Inc (AMZN.O), Nvidia Corp (NVDA.O) and Microsoft Corp (MSFT.O), which is a close second with a market value of $2.49 trillion.
Persons:
Atif Malik, Microsoft's, Tiyashi Datta, Anil D'Silva
Organizations:
Apple, Citigroup, Federal, Amazon.com Inc, Nvidia Corp, Microsoft Corp, Tesla, Nvidia, Reuters, Thomson
Locations:
Bengaluru