Apple is doing better than everyone else and it’s not even close. The tech company became the first American company to reach a $3 trillion market value. The stock has been publicly traded since 1980. It passed the $1 trillion dollar mark in 2018 and it’s been growing exponentially since then.
So what does Apple’s accomplishment mean?
Market capitalization is the total value of all of a company’s shares of stock. Market value can be a little more theoretical. It’s the amount of money a company is thought to be worth based on a few factors including investors’ confidence in a company. The fact that Apple’s value is so high means that people believe the company will continue to grow and increase profits.
Apple’s innovation and company loyalists keep driving the price up. The products have become a status symbol and it’s becoming harder and harder to avoid them. Everyone remembers the commercials “If you don’t have an iPhone, you don’t have an iPhone.”
But iPhone sales aren’t the only product driving revenue. MacBooks, Apple Watches, and products like Apple Music and Apple TV+ keep people spending money on the company. This isn’t the first market value record that Apple has broken. They became the first American company to be worth one trillion dollars in 2018.
Apple is the first American company to break the three trillion dollar milestone but there are a few other companies in the trillion dollar club. Microsoft, Amazon, Alphabet, and Tesla are each worth over one trillion dollars. Microsoft is closest behind Apple. They are predicted to hit the three trillion dollar mark sometime this year.
Apple achieved this accomplishment on January 3rd, the first day of trading in 2022. They didn’t stay at this new benchmark for long and dipped back down to $2.99 trillion by the end of the trading day. The record still counts!