The company’s stock price has increased by nearly 5,800% since founder and former chief executive Steve Jobs unveiled the first iPhone in 2007.
However, its price has dropped slightly from that record, to the end of Monday’s trading session in New York for $ 2.99tn.
Apple has been one of the most successful in the epidemic, as the closure of the coronavirus has seen gadget spending continue.
AppleInc’s $ 3 trillion market capitalization, a gain achieved on Monday, is higher than the GDP of all four countries – US, China, Japan and Germany.
To put this figure in perspective, India’s GDP estimated at Rs 197 lakh crore in 2020-21 translates to less than $ 2.7 trillion on the current exchange rate.
The landmark marks the rise in tech giant figures in just over three years, having exceeded the trillion-dollar mark in August 2018. It broke the $ 2 trillion mark two years later in August 2020.
Estimates and GDP are not really comparable, but looking at both aims to emphasize the value of the world’s largest companies. Amazon, the parent company of Google Alphabet, Microsoft, and Tesla also have a market of more than $ 3 billion.
“Hitting $ 3 billion is another historic moment for Apple as the company continues to prove skeptics wrong,” said Dan Ives, a Wedbush analyst.
It has taken just over 16 months for Apple’s stock market price to rise from $ 2tn to $ 3tn, as major technology companies around the world see demand rise as people rely heavily on smartphones, tablets and laptops during the closure.
Apple scaled the $1 trillion landmark in the year 2018. And $2 in August 2020.
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