Friday, August 19, 2022

Apple Becomes First U.S Company To Hit $3trn Market Value

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Apple Inc has become the first-ever public company to reach $3 trillion in market value after the stock rallied 3% on Monday, Jan. 3, 2022. APPLE

On the first day of trading in 2022, the Silicon Valley company’s shares hit a record of $182.88 around mid-day.
READ ALSO: Wizkid Crowned Apple Music Artist Of The Year For Africa

The tech giant’s rise to a $3 trillion market cap, which is based on its stock price, comes less than two years after its market cap hit $2 trillion.

Apple’s rise to $3 trillion comes on the back of the incredible success of its iPhone line, which has spawned accessories like the Apple Watch and AirPods, not to mention services like AppleCare, the App Store, Apple Music+, and Apple TV+.

“It’s a fantastic accomplishment and certainly worthy to be celebrated,” said Jake Dollarhide, chief executive officer of Longbow Asset Management in Tulsa, Oklahoma. “It just shows you how far Apple has come, and how dominant it is seen as in the majority of investors’ eyes.”
READ ALSO: Elon Musk Increases His Net Worth By $32.6B, Putting His Wealth Value At $304.2B

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Apple shared the $2 trillion market value club with Microsoft Corp (MSFT.O), which is now worth about $2.5 trillion. Alphabet (GOOGL.O), Inc and Tesla (TSLA.O) have market value above $1 trillion.

Also Read:  Sharon Ooja Blesses Us With Her Billion Dollar Smile

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Photo Credit: Getty

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