 Apple stock breached new all-time highs this week, bringing its market capitalization back above $3 trillion. On Friday, it was at $3.066 trillion as shares dipped 0.4% to $197.27. That means the company's valuation is larger than the GDP's of all but six of the world's biggest economies. According to 2022 GDP data from the World Bank, the economies that are bigger than the iPhone maker's market cap include the U.S. at the top, $25.5 trillion, followed by China, $18 trillion, Japan, $4.2 trillion, Germany, $4.07 trillion, India, $3.4 trillion, and the United Kingdom, $3.07 trillion. France, the seventh largest economy, has a GDP of roughly $2.78 trillion, and Russia at eighth boasts about a $2.24 trillion economy. The market cap of Apple is also approaching that of the entire Paris stock market, which hovers at about $3.2 trillion, and is powered by companies like luxury goods makers LVMH and Hermes, according to Bloomberg. Apple stock has jumped 55% so far this year, but it was only this month that it regained the $3 trillion threshold. Putting it over the top was the Federal Reserve's meeting on Wednesday, when policymakers signaled the potential for three-rate cuts in 2024, sparking a big stock market rally. Apple Inc. is an American multinational technology company, headquartered in Cupertino, California. As of March 2023, Apple is the world's largest company by market capitalization, and with US$394.3 billion, the largest technology company by 2022 revenue. As of June 2022, Apple is the fourth largest personal computer vendor by unit sales, the largest manufacturing company by revenue, and the second largest mobile phone manufacturer in the world. It is considered one of the big five American information technology companies alongside Alphabet, Amazon, Meta, and Microsoft. Apple was founded as Apple Computer Company on April 1, 1976, by Steve Wozniak, Steve Jobs, and Ronald Wayne to develop and sell Wozniak's Apple Woz personal computer. It was incorporated by Jobs and Wozniak as Apple Computer Inc. in 1977. The company's second computer, the Apple II, became a best-seller and one of the first mass-produced microcomputers. Apple went public in 1980 to instant financial success. The company developed computers featuring innovative graphical user interfaces, including the 1984 original Macintosh, announced that year in a critically acclaimed advertisement called 1984. Apple is now on track to end the year as the most valuable company in the world for the fifth time in a row, and is outperforming the S&P 500 Index as well as other major benchmarks. Thanks for watching, please don't forget to subscribe for more updates.