Apple hit an intraday market valuation of $3trn on Monday (3 January), the first company in the world to reach this milestone.
During the first day of trading in 2022, Apple’s shares reached a record high of $182.88 each, putting its overall market value at just over $3trn, according to data from Refinitiv. However, by the end of the trading day the shares fell slightly, and Apple closed with a market capitalisation of $2.99trn.
Apple is the world’s most valuable company. It has grown more than 40-fold since January 2007, when the first iPhone was unveiled. It has also recorded dramatic growth during the pandemic, with its market cap more than doubling since January 2020.
Investors are betting that the continued releases of iPhone and other Apple devices will maintain its popularity among consumers, while the company is also working to reduce its financial reliance on the iPhone through services such as video and music streaming.
[See also: Can Apple keep launching luxury iPhones in a global recession?]
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