Tech giant Apple Inc. (NASDAQ: AAPL) has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Monday.
Tech giant Apple Inc. (NASDAQ:AAPL) has emerged as the most-discussed stock on Reddit’s r/WallStreetBets forum as of early Monday.
What Happened: Exchange-traded fund SPDR S&P 500 ETF Trust (NYSE:SPY) is seeing the highest interest on the forum with 149 mentions, followed by Apple with 92 mentions, data from Quiver Quantitative showed.
See Also: How To Buy Apple (AAPL) Stock
Why It Matters: Apple, which currently has a market capitalization of $2.94 trillion, is poised to become the first company to touch the $3 trillion market cap this week. The tech giant is currently the most valued company in the world.
The Tim Cook-led company is seen as a safe haven amid the economic uncertainty after data on Friday showed that the headline Consumer Price Index (CPI) rose 6.8% in November, marking the fastest inflation growth since 1982.
The U.S. Federal Reserve is expected to accelerate the pace of its tapering plans when the central bank holds its monetary policy meeting this week.
Meanwhile, Apple's highly anticipated AR headset will likely have multiple highly sensitive 3D sensing modules that could serve to offer an innovative hand gesture and object detecting user interface, it was reported, citing a new research note from Apple analyst Ming-Chi Kuo. The device is expected to make its debut in the second half of 2022.
Price Action: Apple’s shares closed 2.8% higher in Friday’s regular trading session at $179.45 and further rose 0.2% in the after-hours session to $179.84.