Apple Stock Exceeds $3 Trillion Market Value

view original post

Apple stock became this first U.S. company to exceed the $3 trillion market cap

Last night, FAANG stock Apple Inc (NYSE:AAPL) became the first U.S. company to exceed the $3 trillion market cap. At last check, AAPL was trading down 0.1% at $181.85, which is slightly less than the $182.86 level needed to maintain its noteworthy market value.  

The last time we checked in on Apple stock, the security was nearing this aforementioned milestone. The 10-day moving average, which pressured the shares in mid-December, is once again acting as a trendline of support. Year-over-year, AAPL boasts a 40.6% lead.

The options pits were already overwhelmingly bullish, coming into today. AAPL’s 50-day call/put volume ratio of 3.34 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands higher than 72% of readings from the last year. This means long calls have been getting picked up at a faster-than-usual clip of late.

Likewise, the brokerage bunch views Apple stock in an optimistic light. Of the 43 in coverage, 37 rate the equity a “buy” or better, while just six say “hold.” The security could be ripe for a round of price-target hikes, however, as the 12-month consensus price target of $176.01 is a 3.2% discount to its current trading level.