Apple shares slip as $3 trillion value proves elusive again

Apple shares were modestly lower on Tuesday, with the iphone maker slipping after a four-day rally that put it within striking distance of a historic $3 trillion market value, a threshold that has proved elusive for weeks.

The stock fell 0.5%, amid a quiet session for major indexes. Based on Apple’s outstanding shares, it will reach $3 trillion if the stock hits $182.86; it rose as high as $182.13 in intraday trading this month. Should Apple reach the milestone, it would be the first time any company has done so.

The achievement would cap a strong year for Apple, which has surged nearly 36% in 2021 to a $2.96 trillion value as of Monday’s close. It is also up more than 200% since COVID first sent the world into lockdown early last year and underlined the centrality of technology for work, education, entertainment and keeping connected.