When Apple scooted past the $3 trillion mark for the second time in its history on Friday, it did so under some incredible circumstances. The company had seen sales declines for two straight quarters with another anticipated on the way. It posted an earnings miss for the first time in almost seven years in February. And its highly anticipated product, the Vision Pro, isn’t scheduled to hit stores until 2024 and still feels like a prototype.
Yet while it seems like Apple shouldn’t be setting all-time stock market highs, and shouldn’t be up 53% this year, the company is much better positioned to remain at the $3 trillion level than when it first reached it, briefly, in early 2022.