On Monday, Apple became the first U.S. company to hit a $3 trillion market cap. Apple’s share price briefly hit $182.86 before closing on $182.01.
While Apple hitting the $3 trillion m-cap is a significant landmark, it reached the $1 trillion m-cap in August of 2018 and the $2 trillion mark in August of 2020.
Apple hits a $3 trillion market cap on Monday and closes at $182.01
The iPhone makers briefly hit a $3 trillion market cap on Monday before closing at $182.01.
Investors bet that Apple will continue to produce best-seller products. On the first day of trading, Apple closed its market cap at $2.99 trillion.
The unprecedented heights achieved by Apple during the pandemic are of tremendous significance. Apple shares have tripled since the beginning of the pandemic in March 2020.
The five major contributors to the S&P 500 in 2021 are Tesla Inc, Microsoft Corp, Nvidia Corp, Alphabet Inc, and Apple, whose stock rose to 34% in 2021.
2022 plans for Apple following the $3 trillion m-cap on Monday
During the pandemic, investors are turning to Apple as a haven. Apple’s cash flow can help stock buybacks, investment in new products, and return capital to shareholders.
Apple stands on the top by being the most valuable ahead of Disney, Netflix, McDonald’s, Boeing, Coca-Cola, Exxon-Mobile, and Walmart combined.
Wall Street is betting heavily on electric cars, and investors predict that Apple will launch its E.V. in a few years. Since Apple hit the $3 trillion m-cap on Monday, investors bet that consumers will spend good money on various Apple products.
Apple also aims to embrace various technologies like artificial intelligence, 5G, and virtual reality.
Apple becomes first U.S. company to hit the $3 trillion m-cap
While Apple has several record-breaking quarters of its product lines, it is the first U.S. company to hit the $3 trillion m-cap on Monday briefly. Apple’s market cap is in the lead by beating over 186 countries.
Japan, the U.S., China, and Germany are the only countries ahead of Apple – the first publicly-traded company.
Despite the supply chain issue, Apple delivered its products and became the first U.S. company to hit the $3 trillion m-cap on Monday. China is Apple’s largest smartphone market while in the lead for two months straight.
Sales that made Apple hit $3 trillion m-cap on Monday
Apple’s fiscal fourth quarter ended on September 30 with revenues of $83.4 billion. The income also included the $38.9 billion made in iPhone sales. The iPhone sales were up 47% from a year before, and the service revenue of $18.3 billion was up by 26%.
Apple’s wearable sales were approximately $8.8 billion and$9.2 billion in Mac sales and $8.3 in iPad sales.
The unprecedented demands of the iPhone 13 in China set the stage for Apple to hit the $3 trillion m-cap on Monday.
In Conclusion,
Since Apple hit the $3 trillion m-cap on Monday, investors seem eager to know what the future holds. Nevertheless, they bet that Apple will produce a range of best-seller products in the coming future.
Also Read – Why Facebook, Twitter, And Youtube Lose Billions Due To Apple Privacy Rule?
2 Comments