US technology giant Apple has become the first company to hit a stock market valuation of $3 trillion.
On the first day of trading in 2022, the Silicon Valley company’s shares hit an intraday record high of $182.88, putting Apple’s market value just above $3 trillion.
How big is Apple
In terms of GDP.
Apple’s value now surpasses the nominal gross domestic products (GDPs) of six of the world’s top 10 economies including the United Kingdom, India, France, Italy, Canada and South Korea.
In terms of companies.
Apple alone is now more valuable than the combined values of Boeing, Coca-Cola, Disney, Exxon-Mobil, McDonald’s, Netflix and Walmart.
The company released its last quarterly earnings in October and made a profit of $20.6 billion over the previous three months despite suffering from Covid-related supply chain issues.
3 Trillion Journey
Apple’s rise has been relentless in recent years.
Back in August 2018, it became the first United States firm to surpass $1 trillion in market value.
It blew past the $2 trillion mark only two years later in August 2020.
And now it took roughly 17 months for Apple to reach the $3 trillion mark.
Competitors
Microsoft and Tesla shares gained about 50 percent each in 2021. Alphabet shares soared 65 percent and chipmaker Nvidia 125 percent.
Apple stock gained 34 percent in 2021. Apple’s shares have climbed around 5,800% since co-founder and former chief executive Steve Jobs unveiled the first iPhone in January 2007.
And Apple accounts for roughly 7 percent of the S&P 500 Index.
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