Tech giant Apple is on the verge of yet another massive milestone. It is inching closer to reaching the $3 trillion market value mark which will make it the world’s first publicly-traded company to be worth that much.
On Monday (13th Dec 2021), the market value of Apple was just shy of the massive $3 trillion mark. The shares of Apple (AAPL) closed at $175.74 on Monday, and it needs to hit about the $182.85 mark for Apple to surpass the $3 trillion mark.
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In the last week, Apple’s stock rose about 11%, extending its more than 30% year-to-date gain as investors continued to remain confident that the flush of consumers will continue to pay top dollar for Apple products, including iPhones, MacBooks and for its services such as Apple TV and Apple Music.
The Road to $3 trillion mark
In August 2018, Apple’s market value first crossed the $1 trillion threshold and then in August 2020, it surpassed the $2 trillion mark.
While it took Apple 2 years to jump from the $1 trillion to $2 trillion mark, it looks set to achieve the next jump much earlier this time, in about 16 months.
Also Read: Apple Event 2021: New iPhone 13’s Cinematic Mode Got Rave Reactions Online
Surely, hitting this $3 trillion market value milestone would be another feather in the cap for Apple’s Chief Executive Tim Cook, who had taken over after Steve Jobs resigned in 2011. Since then, Cook has overseen the company’s expansion into new products and markets.
Also, besides Apple’s plans to launch Electric car in near future, the emergence of technologies such as 5G, augmented reality/virtual reality, and artificial intelligence are expected to help Apple and other cash-rich large technology stocks remain in favour with investors, as the global economy puts the COVID pandemic behind it and not just adjust, but in fact, make the most of the ‘new normal’.
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