Apple's market cap surpasses France and Italy's economies, on track to potentially exceed India's GDP

Apple's market capitalization has soared beyond the USD 3 trillion milestone, positioning the tech giant to surpass India's economy's value if its growth trajectory continues.

The remarkable boom in IT companies has propelled Apple's stocks to unprecedented heights, solidifying its strongest financial position to date. Following a remarkable week on Wall Street, Apple's market valuation closed slightly lower on Friday, reaching a total market cap of $3.066 trillion.

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Market cap of Apple is higher than all but 6 of the world's top economies

This places Apple's market cap ahead of the economies of all but the top 6 countries. It currently outstrips the economies of both Italy and France. Apple's market cap, now surpassing USD 3.05 trillion, is only surpassed by the GDP of six countries, including the US, China, Japan, Germany, India, and the United Kingdom.

The expectation is that when the markets open on Monday, Apple's stock will likely rise, potentially overtaking the United Kingdom's GDP in valuation. Given its current growth trajectory, Apple's market cap may even outpace India's GDP in the coming months.

Notably, Apple's market cap has outstripped the entire French stock market, reaching $3.1 trillion in value, which surpasses the combined valuation of all companies listed on the French stock market.

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This marks a significant shift, particularly considering the Paris exchange boasts prominent luxury companies such as LVMH and Hermes. Though a recent drop in Apple shares has narrowed the gap, its ongoing stellar performance on the NASDAQ this year suggests that Apple is positioned to conclude 2023 as the world's most valued company.