Apple Becomes World S First Trillion-dollar Company [UPD]
Apple briefly became the world's first $3 trillion company today based on market capitalization, which is the total value of all of the company's outstanding shares. The milestone came after Apple's stock price rose over 40% in the last year.
Apple becomes world s first trillion-dollar company
Apple Inc. on Monday became the first company with a $3 trillion stock market value, lifted by investor confidence that the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.
On the first day of trading in 2022, the Silicon Valley company's shares hit an intraday record high of $182.88, putting Apple's market value just above $3 trillion. The stock ended the session up 2.5% at $182.01, with Apple's market capitalization at $2.99 trillion.
While Apple is the first company to hit the trillion dollar mark, it is likely to be followed by Alphabet, Amazon and Microsoft. Amazon is currently worth $875bn, Alphabet is valued at $850bn and Microsoft $823bn.
The company is built on the oil holdings of one of the highest-oil-producing nations in the world. With a planned initial public offering by early next year, Saudi Aramco is valued at $1.5 trillion right now, making it about 50% larger than Apple.
Apple became the first company with a $US3 trillion ($4.2 trillion) stockmarket value, lifted by investors\\u2019 confidence that the iPhone maker will keep launching best-selling products as it explores new markets such as automated cars and virtual reality.
The world\\u2019s most valuable company is the first to reach the latest milestone as investors bet that consumers will continue to shell out top dollar for iPhones, MacBooks and services such as Apple TV and Apple Music.
The company was joined by fellow Big Tech player Microsoft in the $2trn market value zone last summer and it may soon follow the iPhone maker past the $3trn mark. Meanwhile, Alphabet and Amazon are close to the $2trn barrier and oil giant Saudi Aramco is the only non-tech company in the trillion-dollar company club.
The iPhone maker became a $1 trillion company in August 2018 and two years later became the first company to be valued at $2 trillion. On Monday, shares in the company rose by 3 percent to $182.86, taking it past the latest milestone, before easing back to trade at $182.
The top 10 from the trillion-dollar club is largely dominated by males from the tech sector, including Google Founders Larry Page and Sergey Brin. An exception to this rule is Bernard Arnault, Chair and Chief Executive of LVMH in fourth place, who is the only representative from the world of fashion within the top 10. As a leader in the luxury sector, the multinational conglomerate recorded US$326 billion in sales last year that mostly stemmed from its fashion and leather goods.
The iPhone, a touch screen cellular phone, introduced in 2007 was one of the world' most successful products and the company has released several new versions since. Other popular products include iPad tablet and Apple Watch. Most recently Apple has expanded its services segments with its credit card (Apple Card), Apple News for news, Apple Arcade for games and the Apple TV+ for streaming original content produced by Apple.5 Steve Jobs died October 5, 2011, but Apple continues on with his legacy with Tim Cook at the helm as the CEO. The popularity of iPhones made Apple the first company valued at one trillion dollars in 2018 and two years later it doubled that figure.6