Apple briefly touches on a staggering $ 3 trillion market capitalization

After growing steadily over the years, Apple’s market capitalization has crossed the $ 3 trillion mark.
Photo: Cult of Mac

Apple has just become the first American company whose value is estimated at a whopping $ 3 trillion. That’s after it crossed the $ 2T milestone only in 2020. But Apple’s sky-high estimate didn’t last. After crossing $ 3T, the stock price fell slightly, pulling the total.

The market capitalization of iPhone manufacturers is now significantly higher than any of Big Tech’s rivals. That’s 20% ahead of the nearest, Microsoft. And in front of every other American company that is publicly traded.

Apple’s path to $ 3 trillion

Apple’s stock price has been steadily rising into the stratosphere over the past few years. It reached a point of 3 trillion dollars about 16 months after reaching 2T in 2020. And that came two years to a month after it became the first U.S. public company to reach $ 1 trillion.

Cupertino has approached $ 3T several times in recent months, but this time it has finally crossed the top. If only briefly. And that happened on the exact 45th anniversary since Apple became a company.

The number is calculated by multiplying the total number of AAPL shares by the current value of each. While this sounds simple, it is more complex than it seems because Apple has a policy of buying its own shares and withdrawing them. This means that it is not easy to say exactly how many shares there are at a given moment. The $ 3 market capitalization comes from experts from Yahoo Finance.

Why so high?

Determining why Wall Street values ​​the price of any stock is hard work at best. Many people have dedicated their entire lives to trying to answer this question. Those who guess well are called “millionaires”.

But it is safe to say that Apple’s stock price has risen significantly due to high demand for computers of all kinds during the COVID-19 pandemic. The iPad went particularly well. And the Mac is also doing its part, with computers running a powerful Apple M1 processor that boosts sales.

Demand for the iPhone 13 is greater than Apple’s ability to meet it, while its service business is also generating huge revenue.

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Naveen Kumar

Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.

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