On Monday, Apple became the first company to cross the $3 trillion market valuation, which is basically the total value of all of the company's outstanding shares. The news nearly a year and a half after the company breached the $2 trillion mark in July 2020.
The share price fell during the stock market closing at 4:30 PM Eastern Time due to which Apple's market cap fell below $3 trillion. Nonetheless, the company remains the first publically traded company to reach such a feat. On Monday, Apple's share price rose to $182.86 which saw the company breach the $3 trillion mark. Overall, the share price rose 2.5% on Monday to close at $182.01.
iPhones play an important role in the company's success. It remains a cash cow for the company. Apple services have reportedly seen a surge during the holiday season raising only the service's business valuation to $1.5 trillion. The Mac division is doing well, as well. The company transitioned to its own Apple Silicon Macs, which has played an important role in the Mac division sales, during the COVID outbreak.
Apple will look to build upon its success in 2022 with a number of products including iPhone 14, redesigned MacBook Air with M2 chipset, a bigger iMac Pro, it's first Mixed Reality AR/VR headset, and many more products launching this year.
Via: The Verge