Apple Inc became the world’s first company with a market capitalization of $3 trillion on Monday, thanks to investor confidence that the iPhone maker will continue to release best-selling products as it explores new markets, such as self-driving cars and virtual reality. .
The company’s share rose to $182.88 in the middle of the first trading day of the new year, a new record that brought the company’s market value to $3 trillion, but the stock ended the session up 2.5 percent to $182.01, dropping its market value to $2.99 trillion.
Investors are betting that consumers will continue to buy iPhones, MacBooks and services such as Apple TV and Apple Music.
It took 16 months for Apple to reach a market value of $2 trillion to $3 trillion, thanks to a recent rally in its stock.
After its market value exceeded the $3 trillion mark, Apple left Microsoft alone in the $2 trillion club, before returning to it at the end of trading, while Alphabet, which owns Google, Amazon, and Tesla, crossed the trillion barrier. dollar.
Microsoft – which currently has a market value of about $2.5 trillion – was the most valuable company in the world until late October when Apple reported that supply chain restrictions could affect its growth for the remainder of the year.