Apple becomes first company to top US$3 trillion in market value

Follow us on Google News:
 Apple becomes first company to top US$3 trillion in market value
Image source: Anton_Ivanov,Shutterstock

Highlights

  • Apple recently pledged to keep launching new products, from laptops to iPhones, as it steps into the new year while it explores new areas like automated cars and virtual reality.

  • The Apple stock’s record intraday high of US$182.88 brought its valuation to just above US$3 trillion.

  • Last year, Apple released its new versions of iPhones, MacBooks, iPads, and watches.

Apple Inc (AAPL) on Monday became the first company to hit the coveted US$3-trillion-mark after the stocks’ relentless rally in recent days before slipping at the close.

On the first day of the trading in 2022, the Cupertino, California-based company finally capped the elusive milestone after the stock breached the US$182.88 mark in intraday trading.

This shows investors’ robust confidence in the technology company, said an analyst. A Wall Street strategist said it just goes on to show Apple’s dominance in the eyes of investors.

Apple had recently pledged to keep launching new products, from laptops to iPhones, as it steps into the new year while it explores new areas in the realms of automated cars and virtual reality.

The stock’s record intraday high brought Apple’s valuation to just above US$3 trillion. However, it ended the session at US$182.01, up 2.5%, which put its market capitalization at US$2.99 trillion.

Last year, Apple released its new versions of the iPhones, MacBooks, iPads, and Apple TV.

Also Read: Top technology and gaming stocks to explore in 2022

Apple Inc (AAPL) on Monday became the first company to hit the US$3-trillion-mark.

Source: Pixabay

Also Read: Tesla delivers close to 1 million vehicles in 2021, led by Model 3 & Y

Apple’s incredible run

Apple shares the US$2 trillion club with Microsoft Corp, now worth about US$2.5 trillion.

In 2018, Apple become the first company to cross the US$1 trillion mark. In 2020, the Silicon Valley company broke another record after surpassing the US$2-trillion-mark.

By contrast, Alphabet, Amazon Inc, and Tesla have market values above US$1 trillion.

The rapid adoption of technologies, such as 5G, AI, and VR, has helped them climb the market ladder as more and more investors moved away from the economy-sensitive stocks during the pandemic, say some analysts.

Meanwhile, China continues to be one of Apple's biggest markets for smartphones, trumping rivals like Vivo and Xiaomi, Reuters reported citing data research firm CounterPoint.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

Featured Articles

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK