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Apple Reaches $3 Trillion Market Cap Milestone, Stock Falls on First Trading Day of 2023
Apple's Record-Breaking Valuation
Apple Inc. (AAPL) achieved a historic milestone on Friday, February 24, 2023, as its stock ended trading valued at $3 trillion, making it the first company ever to reach that level of market capitalization. This remarkable achievement underscores the company's dominance in the technology industry and its enduring appeal to investors.
Market Downturn on First Trading Day of 2023
Despite its record-breaking valuation, Apple's stock experienced a decline on the first trading day of the year, dragging down the broader U.S. stock market along with it. The technology sector, known as "Big Tech," which includes companies such as Amazon, Microsoft, and Alphabet (Google's parent company), performed particularly poorly, contributing to the overall market downturn.
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