Apple becomes world’s first $ 3 trillion company as technology becomes central to post-COVID life

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Apple’s latest iPhone 13 was released in September.

Andrew Hoyle / CNET

Just over three years ago, Apple investors pushed the value of its shares above $ 1,000 billion, making it the world’s most beloved tech company. Then, two years later, Apple’s shares rose so much that the company’s value surpassed $ 2 trillion. Now it has risen again, topping $ 3 trillion. As in $ 3,000,000,000,000.

At around 10:45 a.m. on Monday, January 3, Apple’s stock rose to $ 182.86 per share, which, multiplied by the 16.4 billion shares outstanding, values ​​Apple at around $ 3 trillion. The largely symbolic milestone comes as Apple struggled to meet near-record demand for its devices amid the pandemic.

In October, the tech giant warned investors it was grappling with supply chain disruptions amid the coronavirus pandemic, which at the time accounted for up to $ 6 billion in losses. of income. “We are optimistic about the future, especially as we see strong demand for new products,” Apple CEO Tim Cook told analysts on a conference call at the time.

Screenshot of Apple's 3 trillion-2022-01-03-at-1-47-10-pm

Apple shares hit a new all-time high, making the company even bigger than it already was.

Google Finance

Apple’s Market Value Moment marks another reminder of the company’s unlikely turn from near bankruptcy in 1997 to one of the most influential companies on the planet. In particular, the company has succeeded in creating consumer products such as the iPod music player, iPhone and iPad, which have become leading devices in each of their competing markets.

Apple has been run by Cook for the past ten years. Apple co-founder Steve Jobs recruited him to help oversee the company’s supply chain and operations in 1998. Jobs named him successor in 2011, just months before Jobs passed away. ‘cancer that year.

At $ 3 trillion, Apple is worth more than the annual economic output of the UK, France, India or Italy, according to data collected by the World Bank. Only Germany, Japan, China and the United States are larger.

“Financial returns are simply the result of Apple’s innovation, putting our products and our customers first, and always staying true to our values,” Cook said in a note to staff after the company hit 1 Trillion dollars, according to Reuters. Cook has often said that investors looking for Apple to focus on the performance of stocks rather than its products should not invest in the company.


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