Apple Is the First Company to Hit a Market Cap of $3 Trillion

On January 3, yet another major milestone was reached by Apple Inc. The tech company has become the world's first company to hit a market cap of $3 trillion. Apple kept its outstanding share price growth – it tripled in value in under four years. The company's stock grew to $182.88 per share on Monday.

In 2018, Apple also was the first publicly traded U.S. company to reach a $1 trillion market cap, hitting the $2 trillion mark in 2020. In 2021, the company's shares were up nearly 35%. Apple enhanced its benefits from growing demand for its iPhone 13, Apple Music, Apple TV+, iCloud, and App Store.

Currently, the company closest to the $3 trillion market cap is Microsoft being valued at about $2.6 trillion today. It is followed by Alphabet (the Google owner) which is worth about $2 trillion. Other lucrative companies include Amazon and Tesla, though they are inferior to the previously mentioned tech giants with market caps of $1.7 trillion and $1 trillion respectively. Meta also joined the $1 trillion club in June 2021.

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