Apple becomes world's first $3 trillion market cap company

December 15, 2021 04:16 AM AEDT | By Rupam Roy

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Apple becomes world's first $3 trillion market cap company — Image source: Anton_Ivanov,Shutterstock

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Apple crossed the market capitalization of US$3 trillion Tuesday, December 14, after an astonishing run over the past decade, marking itself as the world's most valuable company.

The iPhone manufacturer hit US$3 trillion from US$2 trillion in market valuation in just around 16 months, accompanied by a rally of other mega-cap technology firms, as the Covid-19 pandemic has accelerated the growth of the tech sector. The whole world relies on technology today ranging from the work-from-home model to making payments online for goods.

It was another feather added in the cap of Apple's current CEO Tim Cook, who succeeded Steve Jobs after he resigned in 2011 and focuses on the company's expansion into new products and services.

The stocks of Apple Inc. (NASDAQ:AAPL) were down 1.49% to US$173.12 at 11:43 am ET on December 14. The AAPL stock gave a return of 35.8% YTD.

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