Apple (NASDAQ: AAPL) Stock Hits $3 Trillion Market Cap As Spotify Regulatory Showdown Intensifies

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Apple (NASDAQ: AAPL) stock has once again surpassed the $3 trillion market cap. Photo credit: Sumudu Mohottige

Apple (NASDAQ: AAPL) is certainly not short of capital or investor support as it meddles amid a protracted regulatory showdown in the EU — while defying scrutiny from lawmakers in the US. As trading ended this afternoon, the Cupertino-headquartered company had a market cap of over $3 trillion.

Since the beginning of 2023, Apple’s stock is up an incredible 55.1 percent to $193.97 per share today. Now it’s the first public company to hit a $3 trillion market cap twice – hitting the first such milestone in early 2022, while Apple managed to maintain the lead through today’s closing for the first time Yahoo Finance – The iPhone maker saw its stock price rise sharply amid a rally across the tech space.

Certainly, at $160.55 per share, Spotify (NYSE:SPOT) is up 96.03 percent since the start of 2023 — a value that could potentially rise as the platform joins its peers and the Increased the price of their US single subscription

And with more stunning stock value gains for Meta (up 130.06 percent despite the massive VR bet), Netflix (49.34 percent) and Snapchat (33.79 percent) over the year, it will be particularly interesting to look at market conditions and price observe -related effects of it on the future.

Of course, there are some financial professionals forecast a recession, and it wasn’t that long ago that Spotify stock fell to an all-time low. In addition, streaming giant Meta and a number of other companies have drastically reduced their workforce in recent months.

As it stands, however, it will be worth keeping an eye on Apple’s massive war chest as the company prepares to crack down on EU antitrust authorities — as well as Spotify, Deezer, and other companies that have been pushing for some time regulatory action against the owner of Apple Music.

And, of course, the by-products of the abundant capital will extend far beyond this EU showdown. Especially in the music sector, the UnitedMasters and Gamma investor Apple is now competing strongly with Spotify with Apple Music (and with the classic streaming offer from Universal Music with Apple Music Classical), booking exclusive artist performances and more.

Finally, it is worth noting that other companies in the music industry also saw their stocks rise significantly this week. SiriusXM (NASDAQ: SIRI), which is now on the verge of shutting down Stitcher, has seen its share price rise about 18 percent over the past five trading days, compared to an increase of about 8 percent LiveOne (NASDAQ:LVO) over the same period and is up 175 percent since the start of 2023.