4 Jan 2022
Apple Makes History as the World’s First Company to Reach $3 Trillion in Market Value
The Index Today
Apple Inc. on Monday created history after it became the first company in the world to hit $3 trillion in market valuation despite the recent economic challenges posed by the COVID-19 pandemic. However, it could not maintain the value throughout the trading day, but closed the session with a 2.5% soar at $182.01.
Since the launch of the first iPhone in 2007, the tech giant’s share prices have surged by 5,800%. The unexpected demand for gadgets and devices during the pandemic thrust Apple in the forefront, pulling its overall revenue up by 47%. Apple has also set the record previously as the first company in the world to surpass the trillion-dollar mark in market value.
Hailing the milestone as a “fantastic accomplishment”, Jack Dollarhide, the CEO of Longbow Asset Management, remarked, "It just shows you how far Apple has come and how dominant it is seen as in the majority of investors' eyes."