Apple Inc’s stock market value ended a trading session above $3 trillion for the first time on Friday, lifted by signs of improving inflation and bets that the iPhone maker will successfully expand into new markets.
Shares of the world’s most valuable company jumped 2.3 percent to $193.97, giving it a market capitalization of $3.05 trillion, Refinitiv data showed.
It was Apple’s fourth straight record high close.
The Cupertino, California company’s market capitalization briefly peaked above $3 trillion in intraday trading on Jan. 3, 2022 before closing the session just below that mark.
Heavyweight growth stocks including Apple, Nvidia Corp., and Tesla Inc. rose sharply after a Commerce Department report showed the Personal Consumption Expenditure price index advanced less in May than in April, reflecting progress in the Federal Reserve’s fight against inflation….