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Apple becomes first company to reach $3 trillion market value

Share price reached a high of $182.88

Apple became the first company to reach a stock market value of $3 trillion, before closing the day at $2.99 trillion.

At its peak, the firm’s stock grew to $182.88 per share on the first day of trading for 2022, but ended the day at a slight decrease of $182.01 per share, for a total increase of 2.5 per cent.

Apple was the first ever company to reach a $1 trillion market share cap in August 2018, and seconded the feat two years down the line by being the first firm to be valued at $2 trillion in August 2020. Its most recent milestone was reached in just one and a half years, tripling its value since 2018.

Since 2018, the firm has decreased its reliance on iPhone sales revenue from over 60 per cent to 52 per cent in the 2021 fiscal year.

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