Apple becomes first company in the world to touch $3 trillion market value

Apple has become the first company in the world to touch the market cap of $3 trillion. The tech giant’s market value soared to touch $3 trillion and then slipped back under it before market close on Monday. The tech company has been sharing the $2 trillion market cap with Microsoft. However, the company finally managed to breach the $3 trillion mark. It currently sits at $2.99 trillion.

Apple stocks have witnessed a growth of around 5,800% since the launch of the iPhone series in the year 2007, according to Reuters. Then CEO Steve Jobs set the stage for the smartphone industry and the product line-up has had a major role in the company’s rising share price.

Apple is followed by Microsoft, in terms of market cap. The software giant has a market value of around $2.5 trillion. Alphabet, Amazon and Tesla are the other tech companies with a market value above $1 trillion.

While 2021 was the company’s best year in terms of revenue, a new report from Bloomberg suggests that Apple is gearing up for an even stronger 2022. Apple may introduce new pro Macs that will be powered by Apple’s home-grown M1 Pro and M1 Max chipsets. These chips also do duty in the latest MacBook Pro series laptops.

This will be a critical year for Apple as it will complete the transition to its own chipsets, moving away from its long-standing chipset provider, Intel. Apple is expected to complete the timeline by as early as June 2022 at the WWDC.

Apple also registered strong growth in the Indian market. In Q3 2021, according to Counterpoint Research, Apple has been reported to be on top of the premium smartphone market. The American company registered a strong market share of 44% in the third quarter. The company also became the fastest growing brand in Q3 with an overall growth of 212 percent, compared to the same time last year.

The post Apple becomes first company in the world to touch $3 trillion market value appeared first on BGR India.

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