Apple Becomes First Company To Hit $3 Trillion Market Cap

Apple has achieved tremendous success at the start of the 2022 financial trading year, reaching the elusive $3 trillion market cap. Its share price briefly hit an all-time high of $182.6 before slipping back under the values shortly afterwards.

Apple is the world’s first company to reach the $3T market cap and continues to be the most valuable.

What’s remarkable is that the company has experienced enormous growth in just four years. It hit $1T in 2018 and the $2 trillion milestone in August 2020.

The growth of Apple is a testament to investors’ trust in its stocks and its ability to sustain long-term growth.

The company’s willingness to diversify into a range of services beyond its original devices like iPhones and iPads is powering its growth. Apple CEO Tim Cook is focused on ensuring that the company does not rely solely on traditional device production.

Apple currently ventures into several service businesses like cloud storage, fitness apps, original shows, and music, which collectively make up half of the company’s value.

Putting Apple’s Value in Perspective

A market capitalization of $3 trillion is enormous by any standard. It equals the gross domestic product of countries like India or Britain and exceeds the GDP of several developed countries such as France ($2.9T) and Russia ($1.6T).

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