Apple is now the world’s first $3 trillion company based on market capitalization, which is the total value of all the company’s outstanding shares. The milestone comes after Apple’s stock price surged more than 40% last year.
The impressive performance Apple achieved when its stock price hit the $ 182.86 mark comes a little over 16 months after Apple became a $ 2 trillion company and less than three and a half years after Apple hit the $ 1 trillion mark.
Apple has reported strong earnings results since the pandemic began, as its products and services are in high demand as more and more people work, learn and connect from home. The company’s revenue is projected to exceed $ 118 billion in the current quarter, beating the quarterly record of $ 111.4 billion set a year ago.
In a memo shared with employees when Apple reached the trillion-dollar mark in 2018, Apple CEO Tim Cook said that “it is not the most important measure of our success” to put products and customers first. and will always remain true to our values. . ”
“Reaching $ 3 trillion is another historic moment for Apple as the company continues to prove doubters wrong with the rebirth of Cupertino’s growth story,” said Wedbush analyst Dan Ives, who had a price tag. The US $ 200 target for AAPL.
Apple will look to build on its success in 2022 with a wide range of products rumored to hit the market, including at least five new Macs, a redesigned iPad Pro with wireless charging support, a rugged version of the Apple Watch, second-rate AirPods Pro. generation. , an AR / VR headset that focuses on gaming, content consumption, communication, and more.