Apples Reminds Us Who’s Boss

If you needed any more evidence that the stock market bulls are back in control, Apple added to the conversation today. πŸ—«

The consumer tech giant closed back above the $3 trillion market cap line for the first time since August, cementing its place as the only company to do so. 🀩

However, Microsoft’s artificial intelligence (AI) and cloud efforts keep the stock near all-time highs, with its market cap at $2.768 trillion. Saudi Aramco is close behind at $2.132 trillion but is suffering due to the recent energy slowdown.

So what is Apple’s secret sauce? Well, it sells many products and generates a lot of free cash flow. It also reduces the amount of shares available to the public market with aggressive stock buybacks. πŸ’΅

The chart below shows the stock’s journey to $3 trillion, along with its shares outstanding and free cash flow numbers over time. πŸ“Š

We’ll have to see if this stock market run can continue into 2024, as many are expecting. For now, bulls remain in control and are not afraid to show it… 🀷

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