In premarket trading Tuesday, Apple shares were 0.7 % higher at $176.90, indicating that the $3-trillion market cap may evade the business for another day despite broader market volatility.

The stock hit a new high of $182.09 on Monday, valuing the company at $2.98 trillion, before falling 2% to $2.88 trillion.

Apple logo and symbol, meaning, history, PNG

To reach the coveted $182.86 level, the stock, which is already the most valuable in the world, must reach $182.86. It's been just four years since the company became the first trillion-dollar corporation in the world.

The stock's current rise comes after a flurry of brokerage upgrades.

In the financial year 2023, the analyst predicts a stronger iPhone upgrade cycle, driven by the need for higher connectivity, with "AR becomes the killer app for 5G." Services are expected to increase faster, according to Mohan. For more immersive AR/VR-enabled apps, he expects the business to charge more.

Evercore's Amit Daryanani boosted the firm's Apple target to $200 from $180, maintaining his 'outperform' rating on the stock.

This comes after JPMorgan analyst Samik Chatterjee upgraded the stock to $210 on Monday.