Apple soared to $3 trillion in market value as of Monday, making the tech giant the first U.S. company to break the threshold, multiple sources reported.
Apple shares topped $182.86 Monday, bringing the company’s market value to $3 trillion, CNBC reported. The share price has almost tripled since the market bottomed in March 2020, adding almost $2 trillion in market cap. (RELATED: Apple To Require Masks In All Its Stores Due To ‘Rising’ COVID-19 Cases)
Monday’s milestone highlighted a 38% jump for Apple’s share price since early 2021, among the largest increase in the Dow Jones Industrial Average, The Wall Street Journal reported.
— CNBC (@CNBC) January 3, 2022
Apple was already set to become the first $3 trillion company by mid-December 2021 when the company’s market cap reached $2.94 trillion, the Daily Caller News Foundation previously reported.
Apple first reached values of $1 trillion in August 2018 and $2 trillion in Aug 2020, the DCNF reported.
The company benefited in late 2021 from surging demand for its iPhone 13 and subscription services like Apple Music, Apple TV+ and iCloud, the DCNF reported.
Sales surged almost 30% to over $83 billion in the fourth quarter of 2021, according to the company’s earnings report.
Apple did not immediately respond to the DCNF’s request for comment.
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