TIMES OF UP

Apple becomes first U.S. company to reach a market value of $3 trillion

Apple becomes first U.S. company to reach a market value of $3 trillion

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On the first trading day of 2022, Apple marked a new milestone: it became the first U.S. company to reach a market value of $3 trillion. 

Apple’s shares briefly touched a record $182.88 per share in Monday’s trading. At that price, the iPhone maker’s value topped $3 trillion. In early afternoon trading, the shares slipped from the intra-day high, putting its value at just below that mark. 

The milestone is even more notable given that it was less than four years ago that Apple topped $1 trillion in value, with that achievement occurring in 2018. And in August 2020, Apple cracked $2 trillion, powered by its steady expansion into a range of services as CEO Tim Cook sought to reduce the company’s reliance on iPhones, iPads and other devices for growth. 

To put its value in perspective, a market capitalization of $3 trillion places Apple’s value roughly on par with the gross domestic product of the United Kingdom. It also exceeds the GDP of countries including India ($2.9 trillion), France ($2.9 trillion) and Russia ($1.6 trillion).

Apple shares were trading at $181.88 in late afternoon trading, up 2.4% for the day.

—This is a developing story and will be updated.

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TIMESOFUP

TIMESOFUP