Apple became the first company to hit the $3 trillion mark on Monday before closing a little below the mark. 3rd January, which was the first trading day of 2022, saw Apple Inc. make a lifetime high of $182.88 per share before closing at $182.01 (+2.50%), with Apple’s market capitalization being $2.99 trillion. On 4th January 2021, the share closed at a price of $129 per share, rising over 38% in a year.
When the stock first debuted on the Wall Street in $1980, it started off with a valuation of $1.8 billion. By 2018, Apple had managed to become the first trillion dollar company and breached $2 trillion in 2020, being the first US company to do so. It shared the $2 trillion club with companies like Microsoft Inc., Alphabet Inc., Amazon and Tesla before breaking through $3 trillion.
In China, which is heralded as the largest smartphone market in the world, Apple beat rivals like Vivo and Oppo to lead for the second straight month. Majority of Apple sales arises from Iphones, but a sizeable part of their sales comes from the sale of Mac laptops and tabs. Under the current leadership of Tim Cook, Apple has managed to decrease its dependence on the Iphone from over 60% in 2018 to 52% in 2021.
The large size of the company shows the influence it possesses over the equity market; its weight within the S&P 500 Index is 7%. Investors have placed their faith in the company even though concerns rise about the shortage of chips. The popularity of Apple all over the world plays a vital role as the pandemic saw a rise in demand for smartphones. It took apply 16 months to go from $2 trillion to $3 trillion. Apple alone is now more valuable than the combined values of Boeing, Coca-Cola, Disney, Exxon-Mobil, McDonald’s, Netflix and Walmart.