Apple has become the first $3 trillion publicly traded company. The iPhone maker hit the milestone on Monday more than a year after surpassing the $2 trillion mark and three years after eclipsing $1 trillion.
Apple’s huge success is due in large part to the iPhone, which revolutionized the smartphone industry and remains a cash cow for the company. But Apple continues to see strong momentum in its other businesses as well, with its services and Mac divisions reporting all-time highs in its Q4 2021 earnings.
Apple isn’t the only company in the trillion-dollar club; Amazon, Google parent company Alphabet, Microsoft, and Tesla all have market caps exceeding $1 trillion. (Facebook parent company Meta breached the $1 trillion milestone in June but is currently sitting below it.) In recent years, Apple has also jostled with others for the crown of the world’s most valuable publicly traded company. It passed Saudi Aramco in July 2020, though it was overtaken for a time by Microsoft in October.
Source: The Verge