Apple is on the verge of another important milestone. The iPhone maker is close to hitting a market cap of more than $3 trillion — the first publicly traded company to be worth that much.
Apple shares rose about 1% in pre-market Monday (13) to about $181.75. Shares need to hit $182.85 for Apple to cross the $3 trillion mark.
Apple’s market value surpassed the $1 trillion threshold in August 2018 and surpassed $2 trillion in August 2020.
Apple shares have risen more than 35% this year alone. The company has benefited from growing demand for its new IPhone 13 and older models, as well as subscription services such as Apple Music, Apple TV+, iCloud and its popular App Store.
Sales rose nearly 30% to more than $83 billion in Apple’s last quarter, which ended in September. The company also has a staggering $191 billion in cash.
But before long, Apple may have some company in the $3 trillion club. Microsoft is now worth around $2.6 trillion and the market value of Google’s owner Alphabet is around $2 trillion. Still giants, but further behind are Amazon, which has a market capitalization of $1.7 trillion, and Elon Musk’s Tesla, worth $1 trillion.
*(Translated text. Click here to read the original, in English)
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
