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Apple is now worth 3 trillion dollars. The company has grown at an insanely rapid pace going from 2 trillion to 3 trillion in less than a year's time. Since the company has grown so rapidly, a lot of people feel like the company must now be overvalued. This sentiment makes sense when one realizes that Apple is now trading at 32 times their earnings. While this p/e ratio is lower than other companies like Tesla, for example, who is trading at 389 times earnings, it is still quite a bit more than average.
Apple hitting a 3 trillion dollar valuation is a very historical event. It looks like Microsoft will be the next company to do so. Microsoft is currently worth 2.57 trillion and has seen very impressive stock growth. I wouldn't be surprised to see Microsoft hit 3 trillion dollars this year.
The fact that Apple continue to grow even at a huge p/e ratio is likely to be a mixture of many factors. When people who don't know much about the stock market start investing, a lot of them just buy Apple because Apple is the most valued. Also, a lot of people invest through S&P 500 index funds which have their biggest position in Apple as they are the top of the S&P.
Apple seems to be creating a lot more steams of revenue for themselves as they enter more markets, and it will be interesting to see how they grow from here. They went from 2 trillion - 3 trillion in less than a year which was a lot faster than their journey from 1 trillion - 2 trillion as they did not hit 1 trillion till 2018.
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