By the second half of 2023, Apple becomes the world’s first three billion dollars ($3 trillion) technology company. That’s because big tech companies are investing in AI
This information was reported by Reuters, and the reason Apple shares rose is because investors are eyeing AI.
According to Apple’s Q2 2023 results (April, May, June), total revenue was $94.8 billion, 4.4% higher than analysts’ estimates, with $51.3 billion worth of iPhones sold. Compared to the previous quarter, this figure was 1.5% higher.
According to data released by Refinitiv Eikon on June 30, Apple tops the top 20 global companies with a value of $3.05 trillion and Microsoft in second place with $2.532 billion. The third place is held by the Saudi Arabian Oil Company with a corresponding value of $ 2.080 billion. Notably Nvidia Corp and Tesla Inc. Nvidia Corp, the first trillion-dollar company in the PC industry, is in 6th place with $1,044.9 billion as of June 30. Experts say the company’s value has increased due to increased investment in AI-related data centers.
Similarly, after TSLA’s market share jumped 28%, Elon Musk reclaimed the title of richest man in the world. The reason behind this is the growing interest in Tesla cars using AI technology, which comes in at ninth place, according to Reuters.