Apple became the first U.S. company to hit a market cap of US$3 trillion on Monday. Shares hit US$182.88 on the first day of trading in 2022.
Apple Hits US$3 Trillion Market Cap
Apple hit a market cap of US$2.5 trillion back in July 2021. The ongoing rise in values comes as analysts believe that demand for iPhone remain strong, including in the crucial Chinese market, as well growing subscriber numbers for its services, Reuters reported.
The AAPL share price later dropped, meaning its market cap fell below US$3 trillion.
[Updated: Headline fixed to read US$3 trillion not US$1 trillion and updated to reflect later drop in share price.)
Charlotte:
First, Happy New Year.
Second, it seems like only yesterday (late winter or early spring of 2018) when I was listening to the tech tent on BBC, and the host was asking a motley crew of commentators which company did they think would the first to hit a $1T market cap, and they mentioned Amazon, Google, FB and even MS, all giving their justification.
It took the host to address the elephant in the room, namely that no one had mentioned Apple, and indeed seemed to go out of their way to snub the company. Following a short, likely embarrassed silence having been called out, each guest harrumphed their justification of declaring Apple a spent force, which but for getting lucky with iPhone, would by now be a dead, dead, company. Oh, I did mention ‘dead’?
Seems like that zombie has now stumbled its way into thrice that with this $3T valuation.
It. Just. Won’t. Die.
On a serious note, Apple’s industry-beating SOC technology on an integrated and still-diversifying platform, its anticipating and upcoming product refreshes featuring those new technologies, not to mention rumours of new products all feature in this valuation, with projected growth, according to Bloomberg, for the next 5 – 10 years https://www.bloomberg.com/news/articles/2022-01-03/apple-value-briefly-tops-3-trillion-after-relentless-rally .