Apple Market Cap To Reach $800 Billion At Open As Stock Rallies Toward Record Territory

By Tomi KilgoreMarketsMarketWatch Pulse

Shares of Apple Inc. rose 0.6% in premarket trade Tuesday, which puts them on track to open in record territory, and enough to give the technology giant a market capitalization north of $800 billion. Apple's market cap ballooned to as much as $801.37 billion in intraday trade Monday, when the stock reached an all-time intraday high of $153.70, before the stock pared gains to value Apple at $797.72 billion at the close. With 5.21 billion shares outstanding as of March 31, according to filings, and with the stock trading at $153.85 ahead of the open, Apple is set to be valued at $802.15 billion at the open. The stock has to end the day at $153.44 to give Apple an $800 billion market cap at the close. The stock has soared 32% year to date through Monday, while the Dow Jones Industrial Average has gained 6.3%.

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