Apple becomes the first $3 trillion company in the world as tech companies and their products now play an integral role to post COVID-life.
Remember when apple, the parent company and producer of the iPad, iPhone, iPod, and Mac computer almost went bankrupt two years ago? Well, that company is now the most valued in the world as of today.
Apple Becomes the First $3 Trillion Company in the World
Just over three years ago, the investors of Apple drove the value of the company’s shares above $1 trillion and in the process making it the most valued Tech Company in the world. Two years later, the stock of the company rose again, but this time so high that its value surpassed $2 trillion. And now the stock of the company has raised again topping $3 trillion.
Apple Stock Rose To $182.80 per Share
Just around 10:45 a.m. on Monday, the 3rd of January, the stock of the apple tech company rose to $182. 80 per share which when multiplied by the outstanding 16.4 billion shares, values the company at up to $3 trillion.
The new value of the company is more than that of AT&T, Coca-Cola, Boeing, Disney, Exxon, Nike, Netflix, Goldman Sachs, IBM, Morgan Stanley, Comcast, Ford, McDonald’s, and Walmart all put together.
The milestone is coming in at a time where the company is struggling to keep up with the near-record demand for its products and services amid the ongoing pandemic.
Back in October, the tech company warned its investors that it was struggling with chain disruptions of supply amid the ongoing pandemic and which at the time of the announcement amounted to lost revenue of up to $6 billion.
Apple CEO, Tim Cook on a conference call back then told analysts that “we are optimistic about the future, especially as we see strong demand for new products.”
Apples Market Value Milestone
Apple’s market worth second denotes one more token of the company’s impossible turnaround from close to insolvency(bankruptcy) in 1997 to one of the most persuasive and influential organizations on earth.
A piece of how the organization did that was by making mass-market items like the iPod music player, iPhone, and iPad, which proceeded to become driving gadgets in every one of their contending markets.
Apple’s been driven by Cook for as long as a decade. The company’s co-founder Steve Jobs enrolled him to assist with administering the organization’s inventory network and operations in 1998. Steve Jobs named him as his replacement in 2011, only a couple of months before Jobs passed on from cancer that year.
Apples Net worth Is More than Most European Countries
At $3 trillion, Apple’s worth is more prominent than the yearly financial result of the United Kingdom, France, India, or Italy, as indicated by information gathered by the World Bank. Just Germany, Japan, China, and the US are bigger.
“Financial returns are simply the result of Apple’s innovation, putting our products and customers first, and always staying true to our values.” Tim Cook in a memo to staff said after apple reached the $1 trillion mark as per Reuters.
Cook very often has said that investors looking for the company to focus on the performance of stock rather than their products should not invest in the company.
The shares of Apple closed regular trading at $182.01 and in the process valuing the company at $2.99 trillion.