That has led to steady revenue growth, cash flow, and key products having a strong long-term outlook. IEcosystem: Nearly 1.65B people across the globe connect to the internet through an Apple product, like the iPhone, iPad or iMac. "The company continues to prove the doubters wrong with the renaissance of growth story playing out in Cupertino." Ives also said that Apple is continuing to see strong demand for the iPhone 13, and the company's services business is on track to be worth $1.5T alone. "Being the first company to join the $3T club is a "flex the muscles moment" for Cook and company," said Wedbush analyst Dan Ives, adding that it was a "watershed" event for the iPhone maker. It took Apple just a year and a half to tack on its latest trillion dollars after reaching a $1T valuation in mid-2018 and $2T in value in August 2020. Google ( GOOG, GOOGL) parent company Alphabet recently slipped out of the $2T valuation club, and was at $1.93T in market cap on Monday. Runners-up: The only other company that is currently in Apple's market cap ballpark is Microsoft ( MSFT), which has a valuation of $2.5T. Lifting investor confidence was the belief that Apple will keep launching best-selling products as it explores new markets like self-driving electric cars, augmented-reality glasses and possibly the Metaverse.
The tech giant crossed the market cap milestone in afternoon trading, with shares climbing nearly 3% to $182.88 apiece. stock market as Apple ( AAPL) became the first company in history to reach a valuation of $3T.
The first trading day of 2022 resulted in a historic day for the U.S.