Silicon Valley giant Apple briefly hit a market value of $ 3 trillion on Monday, becoming the first publicly traded company in the world to cross that historic threshold.
Apple shares briefly rose about 3% to a new all-time high of $ 182.88, surpassing the $ 182.85 per share it needs to be worth $ 3 trillion. The action then fell back.
Apple’s market value first crossed the $ 1,000 billion mark in August 2018 and topped $ 2,000 billion in August 2020.
Apple stock rose nearly 35% in 2021. The Cupertino company has benefited from exploding demand for its new iPhone 13 and other older models, as well as subscription services such as Apple Music, Apple TV +, iCloud and its popular App Store.
Sales jumped nearly 30% to over $ 83 billion in Apple’s fall quarter, which ended in September. The company also has an impressive cash flow of $ 191 billion.
According to the New York Times, the company founded by Steve Jobs in a garage in California in 1976, is now worth more than the combined value of Walmart, Disney, Netflix, Nike, Exxon Mobil, Coca-Cola, Comcast, Morgan Stanley, McDonald’s, AT&T, Goldman Sachs, Boeing, IBM and Ford.