- Apple has become the world’s first company with a $3 trillion stock market value.
- New Year trading coupled with the surging sales during the pandemic has boosted Apple’s share value to $182.20 – tripling in value in under four years.
- Investors believe that consumers will continue to shell out cash to buy the company’s star product – the iPhone.
Apple has become the world’s first company to reach a market value of $3 trillion on the first trading day of 2022. The shares of the popular tech firm have grown by over 40 percent over the course of one year, The company’s share touched an all-time high of $182.88 during the mid-day trading before dropping to $182.01 at the end of the day.
Pandemic-era fuels the growth of Apple stocks
The pandemic has played a key role in shaping the growth of one of the world’s most popular tech firms. Back in 2018, Apple had become the world’s first trillion company. It passed the $2 trillion figure in 2020 and now has hit an all-time high of $3 trillion in 2022.
Now, the company is more valuable than the combined value of Netflix, Walmart, McDonald’s, Exxon, Disney, Coca-Cola, and Boeing. Apple’s shares have grown by ~38% since the beginning of 2021 – the biggest gainers on the Dow Jones industrial average stock market index.
Apple’s lone stay in the $3 trillion club is expected to be short-lived as many analysts believe that Microsoft will hit that mark later this year.
Investors have pinned their hopes on the company’s growth. They believe that consumers will continue to splash out cash for MacBooks, iPhones, and other devices and services such as Apple TV and Apple Music.
Apple’s CEO, Tim Cook sent a memo to his staff soon after Apple hit the $1 trillion mark in 2018. He had stated that the achievement was not the ‘most important measure for their success. He stated that the financial returns are the byproduct of Apple’s innovations and the way they deal with their customers.
Apple’s plan ahead
Apple will be looking to build on the success it has achieved over the past few years. Rumors suggest that an array of new products are slated to launch including five new Macbooks, a revamped iPad Pro that supports wireless charging, a raw version of the Apple Watch, and a second-generation AirPods Pro.
In addition, the company is also on course to roll out an AR/VR headset that will be primarily used for content consumption, gaming, communications, and more.
More about Apple
Apple is an American multinational tech company that predominantly specializes in computer software, consumer electronics, and other online services. At present, it is the world’s largest information technology (IT) company by revenue and also one of the world’s most valuable companies.
Feature Image Source: rawpixel.com