Apple (ticker symbol APPL.O) became the first company to ever reach the US$3 trillion market value milestone in NASDAQ yesterday (3 Jan).
The Silicon Valley company saw stocks roar to an intraday record of US$182.88 putting company value just above US$3 trillion.
However, the stock market closed with Apple’s shares dipping to US$182.01 putting Apple’s market value at US$2.99 trillion.
Despite that, investors are confident the company will keep hitting its stride as consumers continue to purchase products like the iPhone, MacBook and Apple TV.
This confidence is bolstered by CounterPoint Research’s data in China, one of Apple’s largest markets where the company has beaten out Vivo and Xiaomi in the smartphone market share for two consecutive months with iPhone 13 sales.
Since the unveiling of the first iPhone in 2007 by Steve Jobs, Apple’s shares has climbed 5,800% outpacing Standard and Poor (S&P) 500’s gain of 230% within the same period.
It’s recent success is credited to Apple’s swift adoption of 5G, augmented and virtual reality technologies, and artificial intelligence in their products. Made them the favourites in the stock market as more investors are moving into cash-rich businesses.
Currently, Apple shares the US$2 trillion market value club with the likes of Microsoft which is valued at US$2.5 trillion.
