Apple edges up premarket after tech giant's market cap closes above $3 trillion

Investing.com -- Shares in Apple (NASDAQ:AAPL) were marginally higher in U.S. premarket trading on Wednesday, after the tech giant's market capitalization closed at above $3 trillion for the first time since August in the prior session.

Tuesday's increase came after iPhone assembler Hon Hai Precision Industry Co. raised its fourth-quarter outlook citing strong anticipated year-end sales during the key holiday shopping season.

Analysts at Citi said the upgraded forecast was particularly positive for California-based Apple, noting that it "contributes [roughly] 50% of Hon Hai's revenue."

Apple's valuation first officially jumped above the $3 trillion mark in June and later hit a record high close of $195.93 in late July. The stock has jumped by almost 55% so far this year, as solid cash flows and shareholder returns have helped temper concerns over Apple's operations in China.

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