Apple becomes the first company to reach a staggering $3 trillion market value
Apple made history on Monday when it became the first company to have a market value of $3 trillion.
During Monday’s intraday trading, Apple briefly reached a market value of $3 trillion before resuming its decline.
When the company’s stock price reached $182.86, it was the first to do so.
Apple has a $2.99 trillion market capitalization, and its stock closed the session up 2.5 percent at $182.01.
Since Steve Jobs unveiled the first iPhone in January 2007, the company’s stock price has increased by approximately 5,800%.
Since Tim Cook took over as CEO in 2011, Apple’s revenue from streaming video and music has skyrocketed.
Given Tesla’s current position as the world’s most valuable automaker and Wall Street’s strong bet on electric vehicles, many investors expect Apple to release an electric vehicle within the next few years.
Apple’s fourth-quarter earnings showed a 29 percent year-over-year increase in revenue across all product categories.
Despite the iPhone’s continued sales dominance, Apple’s services division generated more than $18 billion in revenue during the third quarter, growing 25.6 percent year on year.
On August 2, 2018, Apple became the first publicly traded company in the United States to reach a market capitalization of $1 trillion.
It will be worth $2 trillion on August 19, 2020, just over two years later.
