apple has become the worlds first 3 trillion company hyperedge embed
Apple CEO Tim Cook greets fans outside the Apple Store on Fifth Ave in the Manhattan borough of New York, New York, U.S., September 20, 2019. REUTERS/Carlo Allegri


Apple has taken another important step. The iPhone maker surpassed a market value of $ 3 trillion on Monday – the first publicly traded company  to be worth that much. 

Apple shares (AAPL)  briefly rose about 3% to a new all-time high of $ 182.88, surpassing the $ 182.85 per share it needed to be worth $ 3 trillion. The title then retired from that level.

 Apple’s market value first crossed the $ 1 trillion mark in August 2018 and topped $ 2 trillion in August 2020.

Apple shares rose nearly 35% in 2021. The company  benefited from booming demand for its new iPhone 13 and other previous models, as well as subscription services such as Apple Music. , Apple TV +, iCloud and its popular App Store. 

Sales rose nearly 30% to over $ 83 billion in Apple’s fall quarter, which ended in September. The company also has a whopping $ 191 billion in cash.

But before long, Apple may have some company in the $3 trillion club. Microsoft (MSFT) is now worth about $2.5 trillion and Google owner Alphabet’s (GOOGL( market value is right around $2 trillion. Still giant but further behind are Amazon (AMZN), which has a market cap of $1.7 trillion, and Elon Musk  Tesla (TSLA), worth about $1.2 trillion.

Read more about this on: TechCrunch