Apple stock has been trading with record-breaking highs over the past few weeks, and on Monday the company has reached a new milestone in valuation. During intraday trading, the value of one AAPL share surged 3% to a high of $182.90, thus making Apple the first company in the world to be worth $3 trillion.
The milestone came after Apple’s stock price rose over 40% in the last year.
One of the contributing factors for this is a growing reliance on the always-expanding services and continuous global success with the iPad, iPhone and Mac. Additionally, the tech giant also has a range of new markets to reach with high expectations for the affordably-priced 5G iPhone SE, a clearer vision for the long-rumored Apple Car project, and a multi-year roadmap for the company’s pending entry to augmented reality and virtual reality headsets.
When it comes to publicly traded companies, Apple is no stranger to financial milestones. Back in August 2018, they became the first to reach $1 trillion valuation. Their value doubled two years later when AAPL hit a $2 trillion market cap in August 2020. This indicates that Apple’s valuation added up another trillion bucks faster in roughly 16 months than it did between the first and second trillion.
Apple leads the pack followed by Microsoft and Alphabet (Google) in the $2-3 trillion range, with Amazon and Tesla settling at the $1-2 trillion range.
After the milestone had been reached, AAPL went back to trading just below the amount that gives the company its $3 trillion valuation – a back and forth that most likely will not last long.
Apple is expected to build upon its success in 2022, with a variety of products rumored to launch including a redesigned iPad Pro with wireless charging support, second-generation AirPods Pro, an AR/VR headset geared towards gaming, a rugged version of the Apple Watch, at least five new Macs, and more.