Apple inches closer to $3 trillion market value

An electronic screen displays the Apple Inc. logo on the exterior of the Nasdaq Market Site following the close of the day’s trading session in New York City, New York, U.S., August 2, 2018. REUTERS/Mike Segar

Dec 13 (Reuters) – Shares of Apple Inc (AAPL.O) rose 1% on Monday, bringing the iPhone maker within spitting distance of becoming the world’s first company to cross $3 trillion in market value.

The company’s stock was up about 1% at $181.12 on Monday, just under $2 shy of reaching the milestone. Last week, Apple’s shares rose nearly 11% and hit record highs in four sessions.

Apple’s shares have surged this year as investors remain confident that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.

When Apple hits the milestone, Microsoft Corp (MSFT.O) would be the only company is the $2 trillion club, while Alphabet (GOOGL.O), Amazon (AMZN.O) and Tesla (TSLA.O) have crossed $1 trillion.

Reporting by Nivedita Balu in Bengaluru; Editing by Saumyadeb Chakrabarty

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