Apple closes in on US$3 trillion market value

The stock needs to gain 4% from its closing price of $175.74 a share on Monday to reach $182.86 and a record $3 trillion in market value after ending the day down slightly more than 2%. It rose about 11% last week

NEW YORK: Apple Inc's market value hovered just shy of the $3 trillion mark on Monday, following a stunning run over the past decade that has turned it into the world's most valuable company.

The stock needs to gain 4% from its closing price of $175.74 a share on Monday to reach $182.86 and a record $3 trillion in market value after ending the day down slightly more than 2%. It rose about 11% last week, extending its more than 30% gain for the year as investors remain confident that flush consumers will continue to pay top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.